Jetsetters and shoppers spend big as confidence returns

17 January

Australians have begun opening their wallets, with consumer confidence making a comeback amid positive economic signs. Consumers spent an average of nearly $200 more during the 2023 Black Friday and holiday season compared to the year before,...[Read More]

Unemployment to stay low despite drop in job vacancies

11 January

Unemployment remains stubbornly low amid a gradual cooling in the jobs market, but the resilience of the Australian economy is being tested by a global slowdown. Job vacancies dropped 0.7 per cent to 389,000 in the three months to November 2023,...[Read More]

Storm clouds loom for economy as rain, floods take toll

11 January

Storms and heavy flooding could wash away Australiaā€™s budget bottom line despite inflation levels receding. Communities in far north Queensland and the stateā€™s southeast have been battered by severe rain, while residents in Victoria, South...[Read More]

Black Friday sales get tills ringing as Aussies cash in

10 January

Shoppers spending big at Black Friday sales have delivered a larger-than-expected boost to retail figures. Retail turnover rose two per cent in November, following a 0.4 per cent drop in October, Australian Bureau of Statistics figures...[Read More]

Savings found to cover billions in new federal spending

14 December

Almost $10 billion in savings and spending changes have been clawed back as part of the mid-year federal budget review. The savings and reprioritisations include billions slashed from the federal infrastructure pipeline last month, the finance...[Read More]

Mid-year budget review examines challenges for economy

14 December

KEY CHALLENGES FOR AUSTRALIAā€™S ECONOMY * Economic growth is expected to moderate to 1.75 per cent in 2023/24 before recovering to 2.25 per cent in 2024/25 * Household budgets remain under pressure from elevated but moderating inflation and higher...[Read More]

Major projects funding to be slashed by billions

13 December

Spending on road and rail projects is expected to be adjusted by $7.4 billion over four years under a re-profiling by the Albanese government. The mid-year budget update, released on Wednesday by Treasurer Jim Chalmers, reveals reforms to the...[Read More]

Heated inflation figures put rate hike firmly in play

26 October

The latest inflation data has come in hotter than expected and may stir the Reserve Bank into a Melbourne Cup Day rate hike. Consumer prices as tracked by the Australian Bureau of Statistics rose 1.2 per cent over the three months to September, up...[Read More]

Financial boost on the way for working pensioners

19 October

Seniors will soon be able to earn more money without their fortnightly age pension being affected. Laws introduced to federal parliament on Wednesday will give a $4000 boost to those on the pension who are also doing some paid work. Under the...[Read More]

Welcome progress on inflation as rate hikes take effect

30 August

The pace of inflation has slowed more than expected, suggesting the Reserve Bankā€™s rapid-fire interest rate hikes are working. The Australian Bureau of Statistics reported a healthy moderation in its monthly consumer price index to 4.9 per cent in...[Read More]

Report to shine light on future economic shifts

16 August

Australiaā€™s long-term economic outlook is set to be revealed next week with the release of the latest Intergenerational Report. Treasurer Jim Chalmers will release the report at an address to the National Press Club next Thursday which will...[Read More]

Soft landing tipped for economy as RBA trims inflation

3 August

A soft landing for the economy remains on the cards as the Reserve Bank maintains itā€™s possible to drive down inflation without sacrificing growth. Australiaā€™s central bank opted on Tuesday afternoon to keep interest rates on hold in a move that...[Read More]

Few plan to spend tax returns as economy stalls

12 July

Just one in 20 Australians plan to splurge on big-ticket items when their tax returns come through, with most opting to squirrel them away or pay down debt. Amid acute cost of living pressures and a string of interest rate rises, surveying by...[Read More]

Australia not expected to enter recession.

5 July

Acting Treasurer Katy Gallagher has called on the states and territories to better ā€œphaseā€ their massive infrastructure projects, but stopped short of labelling them inflationary. Senator Gallagher said the federal government was working with...[Read More]

Inflation surprise as rate of price growth slows in May

28 June

A sharp fall in consumer prices will take pressure off the Reserve Bank, but persistent growth in rents and services will keep further rate hikes in play. The consumer price index sunk back to 5.6 per cent in the year to May, from 6.8 per cent in...[Read More]