Stock, stock everywhere...
Property transactions dried up in the latter part of 2018, and stock listings are now starting to pile up as existing listings aren't absorbed.
In Melbourne listings are up 42.3 per cent from a year earlier.
New car sales also tanked, including business buyer activity.
You never really know if the economy is in recession until after it's already happening, but recessionary conditions increasingly seem to be creeping in.
RBA Governor Lowe will deliver a speech today on the year ahead in Sydney, which will be an interesting listen or read.
Lowe will almost certainly stress low unemployment rates, which is good, but growth in hours worked has been far more subdued, and what's of more concern are the leading indicators.
Lowe will almost certainly stress low unemployment rates, which is good, but growth in hours worked has been far more subdued, and what's of more concern are the leading indicators.
