In a flurry of figures that support the Reserve Bank of Australia's view of a nascent rebound in business sentiment and activity, the Australian Bureau of Statistics said gross operating profits rose 1.3 per cent from the June quarter, bettering the 1.1 per cent gain forecast by economists.

A separate RBA report showed business lending rose in October for the second straight month by more than 1 per cent, the first such increase since just before the collapse of Lehman Brothers in September 2008.

Credit to businesses - which was up 1 per cent from September, when it grew 1.1 per cent - takes the annual gain to 6.6 per cent.

A belated recovery in business borrowing and investment has been one of the economy's critical missing ingredients since the global crisis erupted more than seven years ago, dragging on activity and jobs growth..

The Reserve Bank is set to keep the official cash rate steady at 2 per cent on Tuesday, after governor Glenn Stevens recently urged markets to "chill out" for the Christmas season.

The statistics bureau also reported that inventories fell a modest 0.4 per cent in the September quarter, which is normally associated with a subsequent increase in gross domestic product growth because it implies firms will need to restock in coming months to meet new 

Wages and salaries rose 1 per cent in the quarter, and 2.5 per cent from a year earlier. The biggest gains were in wages for workers in utilities (3.7 per cent), accommodation and food (3.1 per cent), arts and recreation services (4 per cent), and other services (3 per cent).

Read more: http://www.afr.com/news/economy/rising-profits-business-borrowing-points-to-strengthening-economic-transition-20151130-glb8as#ixzz3sx9JkkAZ 
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US Q3 economic growth revised up to 2.1%November 26, 2015 (United States Of America)
 The American economy expanded at a faster pace in the third quarter than previously reported, growing at a 2.1 per cent, the government said.

The 2.1 per cent GDP growth turned out to be higher than an initial estimate of 1.5 per cent, according to an agency report quoting the Commerce Department report. The report of the Commerce Department also showed corporate profits slumped while worker incomes rose.

The consumer continues to power the US economy, with cheap petrol giving households the means and greater job security giving them the confidence to spend. But company stockpiles remained elevated compared with sales, indicating that new orders and production will cool further to clear shelves and warehouses heading into 2016.

The economy grew at an average 2.3 per cent pace in the first half of the year as a 3.9 per cent surge in the second quarter more than made up for a first-quarter slowdown caused by bad weather, a labour dispute at West Coast ports and weakness in the energy industry.

Household consumption, which accounts for almost 70 per cent of the economy, grew at a 3 per cent annualized rate, less than the previously estimated 3.2 per cent.

The good news for consumers is that incomes are picking up. Wages and salaries rose by $102.7 billion in the third quarter following a $109.4 billion gain in the April through June period that was almost $62 billion larger than previously estimated.

After-tax total personal incomes adjusted for inflation climbed 3.8 per cent in the third quarter from the same time in 2014, the biggest year-to-year gain since the end of 2012. That help push the saving rate up to 5.2 percent from 5 percent in the second quarter, indicating consumers have plenty of cash to spend for the holidays.

Last quarter's growth reading was at odds with data on total earnings. Gross domestic income, which reflects all the money earned by consumers, businesses and government agencies climbed at 3.1 per cent rate from July through September following a revised 2.2 per cent advance in the second quarter that was stronger than previously estimated.

Steady growth in the world's largest economy is helping to create jobs and push down the unemployment rate, which Federal Reserve policy makers are watching as a gauge of how much slack is left in the labor market. Fed officials are considering raising their benchmark interest rate as soon as next month, should data continue to indicate that the US economy can withstand tighter monetary policy.

Unemployment fell to a seven-year low of 5 per cent in October and payrolls climbed by 271,000. Fed officials are likely to conclude when they meet next month that the economy is strong enough to handle the first increase in interest rates in nearly a decade. (SH)

CHANCELLOR George?Osborne may be able to claim the UK?economy is the fastest growing in the G7 again this year, new figures reveal.

The economy grew by three per cent in 2014, up from earlier estimates of 2.8 per cent, the Office for National Statistics said yesterday.

In the first three months of the year the economy grew 0.4 per cent instead of the previously reported 0.3 per cent. On the output side, the improvement was due to construction.

Comparing the first three months of the year to the same period in 2014, construction output expanded 4.5 per cent, instead of a previously estimated contraction of 0.3 per cent. 

“We still think that GDP growth this year could be very close to last year’s three per cent rate, ensuring that the UK remains the fastest growing G7 economy for another year,” said Samuel Tombs from Capital Economics.

“The UK remains relatively strong, driven by solid employment growth and the recent upturn in real earnings,” said John Hawksworth, chief economist at financial services giant PwC.

city am 

Pete

Other than the topic I haven't read your comments but I do warn people to not take too much notice of silly statements like the Economy on the Up and Up and such things as Monthly trade figures already available suggest a strong contribution to growth from exports. These statements are rubbish statements that say nothing 'real', just feel good stuff.

These statements are also untrue as.....

-mining and all industries supporting mining (including housing in mining towns) are down and could slide further as China's market is changing and moderating.... bankruptcies will possibly be numerous;

-outside of mining even, our exports are weakening whilst our imports are still growing;

-our banks are under capitalised and have a high concentration of foreign interests;

-our employment figures are dodgy as a 'new' method of calculation has just now been implemented by the govt.... this means that unemployment is rising and not steady or decreasing...plus we don't know how many other economic figures have been 'adjusted';

-our property market is winding down; 

-NBN (the crap useless Lib 'fibre to the node') is billions and billions over budget and way behind in installations;

-private debt in Australia is really excessive and could be described as a credit/debt bubble which is being pushed to its limits;

-govt debt has doubled and the Libs unable to balance their books or even work within their own budget; and

-Australia's 24 years of growth may hit a brick wall in the next two years.

The current government are "sitting on their hands" and just smiling and saying everything is fine or re-calculating the figures to give good results which they are getting away with because of the corporate media interests in maintaining the status quo.

The Liberal govt have NO comprehensive plans in place to counteract economic pressures both within and outside of Australia's economy.... let alone short, medium and long term plans.  

This govts ONLY action is to tell us that 'everything is fine' and blanket us with this bulldust.... until that is, the sh*te hits the fan and although those "in the know" will be fine because they would have shifted or cashed in their assets, the rest of society could be in dire straits, with people losing their jobs, homes and families.

Moral of the story... if you can... reduce your DEBT.

It's it great that the U.S. UK and a little behind Aus are growing economically . 

It shows that command economies of the soft left do not work as well as when you free up initiative.. 

Salaries growing faster than inflation or co profits .. In all three ,, 

Unemloyment trending to below 5 per cent in the U.S. And in the UK a shortage of skilled labor . 

Mussi yet to hear your political stand . 

Apart from hatred of the U.S. Yet to understand  what economically you stand for . 

Big command economies ? Controlled capitalism  of Japan and Korea and Germany ? Socialism of France ? Gerontocracy of China and Russia? 

We all want to look after the needy but the best way to do it is grow the pie . 

After-tax total personal incomes adjusted for inflation climbed 3.8 per cent in the third quarter from the same time in 2014, the biggest year-to-year gain since the end of 2012. That help push the saving rate up to 5.2 percent from 5 percent in the second quarter, indicating consumers have plenty of cash to spend for the holidays.

Mussi I may totally disagree with your point of view but at least you have one,

The economy is forging ahead in defiance of the biggest collapse in business investment and export prices seen outside a recession, with Scott Morrison banking on a revival of business expansion away from the mining sector to sustain growth through next year.

GDP growth of 0.9 per cent in the September quarter was driven by the best lift in exports in 15 years, a bigger-than-expected rise in consumer spending and a boom in housing — particularly apartment — construction.

“The thing about a transition is you’re on your way to a better place and there is a strong place for us to go to and that’s where we’re heading,” the Treasurer said, adding that over the past seven years the economy had been managing the biggest struct­ural swings in a century.

He said Australia’s 2.5 per cent growth over the year to September was double the growth that had been achieved by Canada, which also has a strong base in ­resources, while Australia’s biggest competitor in the resource sector, Brazil, was suffering its deepest reces

Australian 2/12/2015

Australia's international trade has deteriorated dramatically, with the deficit blowing out by 38 per cent to $3.3 billion in October.

The result was driven by a $829 million drop in exports, while imports remained flat.

The blow-out surprised the market which had forecast a fairly flat result in line with September's $2.4 billion seasonally-adjusted deficit.

The fall in exports was driven by an unexpectedly poor performance in the value of commodity shipments, with the fall in prices more than outstripping increased volumes.

Iron ore exports fell by $366 million or 6 per cent, while the value of metal shipments tumbled 16 per cent. ABC

Congratulations to the Greens for supporting the government's stand on Multinational's tax avoidance. We can see where the bottleneck to progress is!!!

Of course Labor will find a way to justify their negative stance on this issue, but it is increasingly clear that they are protecting their big business mates!!

No, the economy is not on the way up, but consumer confidence (not spending, as yet anyway) has somewhat increased which is a good sign. "Mandate" Morrison's budget guesswork has to prove itself before people become more trusting of him in a position which has been like a fox in a chicken coup with both the LNP and Labor (sorry, mick). If you are reading this you are more than likely a retiree or about to be, so don't start spending all your money right away, just wait a while for Joe's stagnant cigar smoke to blow away and the dust to settle from "Malcolm's Mate" Morrison's blundering budget before celebrating, or drowning your  sorrows.

Thank you, Mussitate. I think mick is OK, at least he was yesterday when someone told him on this site that he seemed to have settled down because he wasn't defaming womanhood with his comments. The person (Peterrj, I think) put the change down to mick being back on his medication (what a hoot!), so I reminded mick's not to miss a dose. Just like old big kids commenting here. Great site giving people a variety of topics and a good chance to converse with one another whilst providing food for thought and laughs. Enjoyment of the comments increases directly with the decrease of seriousness with which they may be taken. Have fun.

Bronwyn Bishop spent more than $50,000 on a country-hopping South American trip earlier this year.

Earlier this year it was revealed she spent more than $5,000 chartering a helicopter from Melbourne to Geelong in November to attend a Liberal Party fundraiser.

The expenditure report, released on Thursday, showed Mrs Bishop continued to charter aircraft after the notorious November helicopter trip.

On March 6 this year, $4,100 was spent on a return trip to Port Macquarie, where she attended the Hastings Heroine Awards

No direct flights are available between Canberra and Port Macquarie, but the journey can take less than three hours flying via Sydney.

A six-day trip by Ms Bishop to Vietnam in March and April cost taxpayers $19,218.99, including nearly $13,000 on flights.  abc

I would expect most pensioners would be aghast at how much one politician can waste of taxpayers money.