NEWSFLASH! In September I will join The Conversation as its Business and Economy Editor. I have been honoured to work at The Age for the past ten years, originally alongside the legendry Tim Colebatch, and for the past four years as economics editor in my own right.

At The Conversation, my job will be to make the best thinking from Australia's 40 univerisites accessible to the widest possible audience. That means you. From the new year I will also write a weekly column.

On this site are most of the important things I have written for Fairfax and the ABC over the past few decades. I recommend the Search function. The site is a record for you, as well as me.

I'll continue to post great things from The Conversation and other places here, and also on Twitter and Facebook. Enjoy.

Monday, July 01, 2013

Not a pretty picture. The latest on commodity prices from the RBA

As the RBA tells it:

"Preliminary estimates for June indicate that the index fell by 4.1 per cent (on a monthly average basis) in SDR terms, after falling by 2 per cent in May (revised). The largest contributors to the decline in June were falls in the prices of iron ore, gold and coal. The prices of many rural commodities and base metals also declined in the month. In Australian dollar terms, the index rose by 1.8 per cent in June.

Over the past year, the index has fallen by 10.5 per cent in SDR terms. Much of this fall has been due to declines in the prices of coking coal, iron ore, thermal coal and gold. The index has fallen by 5.5 per cent in Australian dollar terms over the past year."