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Australian economy moved slowly into 2013

The latest pair of indicators show that the economy moved slowly into the new year, with building approvals falling by 2 per cent for the third month in a row. The weakness of the building and other sectors showed itself in a slowing of job ads , which fell by one per cent on the internet and in newspapers. Although a standalone marginal figure, it was the tenth fall in a row, marking the lowest point of jobs advertised in three years. These economic figures point to a general consensus among some leading economists that the job unemployment rate will rise to 5.5 per cent from 5.4 per cent.

This is a still a relatively low unemployment figure but along with the high Australian dollar points to the economy making a slow start to 2013.

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