Growth is good! Business, politicians and society continually seek growth and the economic expansion, prosperity and possibilities progress offers.
Building permits and starts are backed up to two years into the system, writes Blake Doyle. FileBusiness, politicians and society continually seek growth and the economic expansion, prosperity and possibilities progress offers. Unconstrained growth is not without challenge — growth of debt, growth of imbalance … or growth of my waistline – all can be deemed negative events. As the economy continues to digest governments growth stimulation, the belching and gas of growth needs to be considered.
Rising interest rates are cooling the sector with a decline in building permits of 4.3 per cent from last year and a decline of 6.5 per cent in year-over-year residential permit requests. These natural slowdowns are not aligned directly to increasing financing costs, or property owners'/ developers' vitriolic dispute with government’s taxation on property owners, eight per cent in 2021 and 8.9 per cent in 2022; denying inflations input cost impacts while continuing to stoke inflation.
Last year we exported a staggering $1.8 billion, an increase of 19.1 per cent. Total farm receipts grew 26.5 per cent year-over-year. And consumers are spending, retail sales grew 7.3 per cent between 2021 and 2022. These are all excellent metrics, except when they are trending against the policy of government. The more economic success we have, the more challenging the retracement to a lower baseline. Government actually needs to see consumerism slow.
France Dernières Nouvelles, France Actualités
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