1. The rise and fall of AI…
It seems like the hype around AI is starting to fade, judging by mentions of ‘AI’, ‘Machine learning’ or ’Generative AI’ on earnings calls…
Source: Bloomberg, Apollo Chief Economist (February 2024)
2. Where to for wages…
Aussie workers’ wages growth expectations may have peaked alongside lower inflation expectations. The continued strength in net permanent and long-term arrivals into Australia suggests an easing in labour market conditions.
Source: ABS, Melbourne Institute, Macrobond, Macquarie Macro Strategy (February 2024)
Source: ABS, Macrobond, Macquarie Macro Strategy (February 2024)
3. From Love story to Cruel summer…
We know prices are heading up everywhere, just watch Chart of the week! And concert ticket prices are no exception. The average price of a concert ticket has increased from $90 in 2018 to $120 in 2023, or +33%.
Whether you call it Taylornomics or Swiftonomics, we are waiting to see the impact on the economy from Taylor Swifts concerts over the next week. We’ve heard an extra 64 flights have been added to the Brisbane – Melbourne/Sydney schedule to get fans to the concerts in time. That’s a 5% rise in volume around concert days!
Source: Pollstar, Apollo Chief Economist (February 2024)
Note: The top 100 North American concert tours rank artists by average box office gross per city and include the average ticket price for shows across North America.