News

Adept Economics Director Gene Tunny thanks Ross Elliott from APP Property and Infrastructure Specialists for having invited him to present again at his annual Queensland: Hot or Not seminar at the Brisbane Club on the afternoon of Tuesday 18 February 2020. It’s very clear the Queensland economy, and the broader national economy, isn’t hot at the moment and isn’t likely to heat up anytime soon. You can check out Gene’s slides via this link (noting that the data were current as at 18 February):

Qld hot or not presentation 18 February 20

Key points Gene made included:

• the large uncertainty regarding the ultimate impact of coronavirus/COVID-19 (check out CCIQ Coronavirus interview – Chief Economist “very concerned” about potential impacts)
• Queensland’s over-reliance on the public sector for growth (e.g. see Gene’s post Qld private sector spending has been falling while government has continued to grow)
• some positive news in the form of a big pick up in non-residential building approvals and strong growth in meat and LNG exports over 2019 – incidentally, partly thanks to exports from Gladstone, Australia is now the largest LNG exporter in the world (see this Queensland Country Life report)
• it’s an election year so expect a big spending early budget in April and get your business cases ready if you’re looking for a state government contribution to a regional project

Please send any questions, comments, or suggestions to contact@adepteconomics.com.au or call us on 1300 169 870.