Doomsayers proved wrong again as businesses expand and prosper

As Austin reported, official data on the Australian economy continue to weaken the Critics of the Albanian government.

In a parallel universe that hosts Labour’s constructive economic reform Round table table Last month, some loud commentators want voters to believe that the Australian economy is worsening and the labor force will be blamed.

Sky News He is carrying out a logical campaign that claims to be the economy “From a cliff”. Australia The nation is a ‘New Home building crisis’. Liberal party to shout Into the void ‘Labor made the economy into a dough’.

Fortunately, all these terrible false narratives, Treasure, Finance departmentAustralian Statistical Office (Pessimistic) and by extremely profitable companies of Australia.

These show two open reality – show that the economy suffers from disaster in terms of three coalitions and is now rapidly gathering.

The Business Labor Party gives a great vote of confidence

ABS update of last week Capital expenditures He confirmed both observations by the private sector of Australia – confirmed that business investment has collapsed under the coalition and now healed. See the table below.

Under the former Prime Minister of the heights over $ 210 billion Julia Gillard After the global financial crisis (GFC), capital investment fell badly Abbott– Turnbull And Morrison Years, up to 144 billion dollars in 2020-21.

What makes this so terrible is that in these years after the GFC, the rest of the world in these years is to benefit from strong economic growth, live employment, healthy wage increases, developing trade, record capital investment and excellent institutional profits. State budget Later, the surpluses provided significant debt refund.

Capital expenditures rising In 2017, in the USA. Moreover Spain, Holland And opposite Euro zone.

In 2017, Australia, on the contrary, noted the lowest capital investment in almost ten years. This decreased in 2020 and 2021 because the investment changed elsewhere.

The second net message from the graph above is that these gloomy days go.

BUSINESS STARTALS REGISTRATION

Australians started 437,150 until June New businesses And close 370,500. This is a clear increase of 66,650, the year with the highest 2.73 million companies of all time. In June 2021, far above 2.4 million.

Industries with the highest growth in the number of jobs are as follows:

Health and Social Assistance with an increase of 6.6 %;
Shipping mail and storage with an increase of 5.1 %; And
Financial and insurance services increase by 3.7%.

Construction has seen a clear increase in 10,002 enterprises, an increase of 2.2%in the last financial year. This was the result of the start of 76,414 enterprises and the closing of 66,412.

These numbers seem uncomfortable, but actually quite normal. In the last three years, after construction, construction initiatives are 75,300 per year and the an average of closing was 66,100.

Housing leads to fluctuation

Many of the financial construction has increased significantly in the financial year with shame to many of the apocalypse traders in the main news rooms. This last week ABS Report House Construction and Engineering Construction for June quarter. This provides three years of strong growth in this sector following the collapse of the coalition. See the table below.

ABS measures the formation and construction for private and public sectors separately. Since the 2022 government amendment, all four categories have increased every year.

The coalition also directed an increase in the four ABS construction categories. This was at 2017-18.

Businesses reported record profits

The current profit reporting season confirms that conditions now ensure the development of well -managed enterprises.

Qantas reported The net profit of $ 1.61 billion in the last financial year is a 28% increase last year, a healthy return. This, despite a fine of $ 90 million and 120 million dollars, he paid compensation for being illegal Outdoor use Use of floor.

Arms published Net profit of $ 1.08 billion, 2.4%increase. Wesfarmers Limited reported With an increase of 14.4 %, net snow for the year is 2.93 billion dollars. Harvey Norman produced The record increased by 47% compared to the previous year.

Pistol published A net profit of 36.6 million dollars in a return from a loss of 1.36 billion dollars last year. Net profit of Austin engineering (unfortunately no relationship) skipped 70 % to 40.4 million dollars.

Among other companies that make profit Vodafone– Mekka– Virgin Australia– Asx limited– Austtal And Macquarie Group.

News Rooms are starting to catch up

. Herald Sun A story titled last week ran ‘Australian household expenditures rose in ratio and tax cuts’Introduced as online ‘Big signature Australians are starting to spend again’.

He reported this, ‘Data published by the Australian Statistical Bureau shows that household spending increases only 0.4 percent in March quarter’ And says this is ‘The worst of the cost of life may be finished’ a big sign ‘.

This data is correct, so to get the right story for a change in the Murdoch painting Kudos.

But that’s it. Three -month ABS National accounts The data used in this analysis were published on 4 June. So this is not exactly a new news. The previous four -month report, published in March, June, September and December 2024, showed the increasing household expenditures, all approved by me.A He first reported in June 2024 and later in October 2024, the cost of the life crisis ended in the late 2023.

. Herald Sun It must have reported this because it appeared in the beginning of 2024. Of course, all the main news rooms have chosen to choose the wrong expression of a life crisis cost through the 2025 election campaign.

Fortunately, this did not succeed.

Now let’s see how long it will take to capture the reality of other losing news rooms and report the truth.

https://www.youtube.com/watch?v=al70ifecbf0

Alan Austin is an independent Australian columnist and free journalist. You can follow him on Twitter @Alanaustin001.

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