Economy
Economy yet to shake malaise as growth misses forecasts
4 December
Australia’s economy is still growing – but only just – though economists are unconvinced the weaker-than-expected data will bring forward keenly-anticipated interest rate cuts. Full-year growth fell to 0.8 per cent in September, down from one...[Read More]
Drivers hit the brakes on car buys as economy slows
4 December
Motorists’ need for speed is slowing down, with new car sales stalling in Australia for the fourth month in a row in what one industry expert called a “disturbing trend”. Vehicle sales declined by more than 10 per cent in November, according...[Read More]
Christmas rate cut hopes slayed as inflation holds firm
27 November
Australia’s inflation rate may have undershot expectations to hold at the bottom of the central bank’s target band but borrowers should not expect interest rate cuts just yet. The annual headline inflation rate has held at 2.1 per cent in...[Read More]
Annual inflation rate hangs on at 2.1 per cent
27 November
Australia’s annual headline inflation rate has held at 2.1 per cent in October for a second month, coming in a little below expectations. Despite clocking a second month at the bottom of the Reserve Bank of Australia’s two-three per cent target...[Read More]
‘Surprise’ budget windfalls drying up, economists warn
27 November
Australia is waving goodbye to budget surpluses and returning abruptly to deficit, facing a $49 billion deterioration in the bottom line as per forecasts from leading economists. The $15.8 billion surplus logged in the last financial year to...[Read More]
Thousands wiped off student debt in pre-Christmas gift
27 November
Millions of university graduates and students will soon wake up to an early Christmas present after the government wiped thousands of dollars off their debts. Laws to cap the indexation rate for the Higher Education Loan Program at either the rate...[Read More]
PM courts world leaders amid global inflation concerns
21 November
Prime Minister Anthony Albanese has concluded his latest round of world leader speed dating at a major economic forum with a spotlight on trade and climate. Mr Albanese met with Chinese President Xi Jinping and UK Prime Minister Keir Starmer on the...[Read More]
Revenue upgrades ‘a sliver’ of earlier years: treasurer
20 November
Lower iron ore prices and a slackening jobs market will weigh on the budget bottom line, the federal treasurer has warned ahead of the mid-year economic update. Jim Chalmers has played down the size of revenue upgrades, citing structural challenges...[Read More]
Social cohesion holds despite inflation, high migration
20 November
The vast majority Australians still view multiculturalism and immigration favourably despite growing concern about the number of new arrivals. Almost half of those surveyed in the 2024 Scanlon Mapping Social Cohesion report said migration into...[Read More]
Consumer confidence rebound wobbles following Trump win
13 November
A second Donald Trump presidency has dented an otherwise confident outlook for Australian consumers, buoyed by improving finances and the diminishing likelihood of interest rate hikes. Pessimists still outnumber optimists in the Westpac-Melbourne...[Read More]
Annual wage growth for workers drops to 3.5 per cent
13 November
Australia’s annual pace of wage growth has stepped down to 3.5 per cent through to September, from 4.1 per cent over the year to June. A large fall in the annual rate was anticipated as a bumper 5.75 per cent increase in award wages fell out of...[Read More]
From sadness to wellbeing: call to rewire the economy
6 November
People are not simply wondering if they can afford the life they lead, they are questioning if it is the life they want, an international humanitarian says. “If you start talking to people about what their lives are like right now, a lot of people...[Read More]
Bonus to stick with army helps Australia to stay ready
6 November
Cash bonuses for serving personnel will do little to improve retention rates, a veterans’ welfare organisation warns. The Albanese government on Tuesday announced a $600 million package to keep people in the military, while releasing the 2024...[Read More]
Inflation eases to 2.8 per cent in September quarter
30 October
Australia’s annual inflation rate has returned to the range targeted by the central bank, clocking in at 2.8 per cent in the September quarter. The headline annual rate was down a whole percentage point from the June quarter and landed broadly in...[Read More]
Petrol and energy relief drag headline inflation lower
30 October
Cheaper fuel and energy bill relief have helped drag headline inflation down to its lowest rate since early 2021. A 2.8 per cent rise in the September-quarter consumer price index marks a return to the Reserve Bank’s target range of two to three...[Read More]