Day November 22, 2024

Moderate Economic Growth in Q3, but Weak Capital Spending Raises Concerns

Summary: Japan's economy grew by 0.9% in the July-September period, showing moderate growth, but sluggish capital expenditure slowed the pace. Strong private consumption, a decline in capital spending, and net external demand brought new vitality. The Bank of Japan maintains ultra-low interest rates and suggests that the conditions for a future rate hike may be developing.

Australian Real Estate: Year-End Sales Boom Amid Sydney’s First Price Drop

Summary: The Australian property market in spring 2024 is showing mixed signals. While year-end and early-year periods are prime sales seasons, Sydney experienced its first price drop, coupled with a surge in property listings. Economists predict an interest rate cut by the Reserve Bank of Australia in February next year, causing buyer hesitation and prompting homeowners to seek higher sale prices.