But importantly, Facebook is the most exposed to Apple’s privacy changes, and it looks like it is starting to have an impact to the outlook beginning in 3Q,” said Ygal Arounian, an analyst at Wedbush Securities. “The user growth slowdown is notable and highlights the engagement challenges as the world opens up. Monthly active users came in at 2.90 billion, up 7% from the same period last year but missing analyst expectations of 2.92 billion and marking the slowest growth rate in at least three years, according to IBES data from Refinitiv. offices to be vaccinated against COVID-19. The company also announced on Wednesday that it would require anyone working at its U.S. As the virus spreads, it may change and may become harder to stop. The iPhone maker’s privacy changes make it harder for apps to track users and restrict advertisers from accessing valuable data for targeting ads. Staying up to date with your COVID-19 vaccines reduces your risk of severe illness. The warning overshadowed the company’s beat on Wall Street estimates for quarterly revenue, bolstered by increased advertising spending as businesses build their digital presence to cater to consumers spending more time and money online.įacebook said it expects Apple’s recent update to its iOS operating system to impact its ability to target ads and therefore ad revenue in the third quarter. Drew Angerer/Getty Images Facebook warns its growth is about to 'decelerate significantly' after the pandemic kept people online last year Facebook said growth will slow down in the. The bigger problem is explaining how living standards are continuing to fall with no sign of the wages price index getting ahead of inflation, never mind the real, after-tax story.(Reuters) -Facebook Inc said on Wednesday it expects revenue growth in the third and fourth quarters to “decelerate significantly,” sending the social media giant’s shares down about 5% in extended trading. Politically, lying about debt and deficit and interest rates for nine years will make it hard for the Coalition to suddenly have credibility in telling the truth that rising rates are a sign of a strong economy, that falling and extremely low rates are not necessarily healthy. The irony is that tightening monetary policy actually can’t result in much spending being reduced.Īs the Australian Bureau of Statistics explained, most of the inflation we’re feeling is in non-discretionary spending – we still have to pay the rent, buy food and fuel, meet necessary health costs, even people with big mortgages. Remember that only about a third of households have a mortgage and most of those have either built up a buffer or substantially paid it down.īut the psychological impact of the first rate rise in a dozen years is broader than the number of people who will feel it in their wallets.Īll the headlines get noticed, the idea of people cutting back on spending spreads around. The situation is still serious across the continent, a WHO official said, with around 1. The financial impact of this and the next couple of rate rises will be felt by few Australians – only those who took on large mortgages in the past couple of years. There have now been one million coronavirus deaths in Europe, the World Health Organisation has said. Money remains cheap enough to be stimulating the economy, not slowing it. Anyway, Dr Lowe said only “some withdrawal of the extraordinary monetary support” was appropriate. Still, Facebook’s growth in 2021 has remained strong despite potential regulatory headwinds, including. The other factors in the monetary equation could no longer be ignored. He said the company expects growth to slow modestly in the second half of the year. I’ll take bets now that wages growth will still be a long way short of the inflation rate, meaning living standards will continue to fall. Hannah Murphy in San Francisco Facebook warned that the pace of its revenue growth would decelerate significantly in forthcoming quarters, sending its shares down in after-hours trading on. The bank’s business liaison tells of wages growth picking up. The forecast is still for this inflationary surge to be transitory, for both the headline and underlying figures to be ”around 3 per cent” by the middle of 2024.ĭr Lowe had nailed the bank’s colours to decent wages growth before lifting rates but, you know, stuff happens. The bank acknowledges headline inflation will continue to rise from the latest consumer price index reading of 5.1 per cent to 6 per cent for the year with underlying inflation of 4.75 per cent. Growth of only 2 per cent doesn’t reduce unemployment. The unemployment rate is predicted to fall to about 3.5 per cent nearly next year, but then stay there. (The RBA’s 2022 forecast is half a percentage point lower than Treasury’s budget prediction of 4.75 per cent, but matches the budget’s soft 2023 expectations.)
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