economy
Businesses and consumers caught between opposing forces
12 June
Will a second rate cut be enough to settle the nerves of businesses and consumers spooked by global trade uncertainty? Donald Trump’s tariffs have weighed on sentiment in recent months, stifling an expected economic recovery in 2025. Household...[Read More]
‘Not unreasonable’: PM hopeful on summit compromise
11 June
The prime minister is confident unions and business groups will find common ground in dealing with flagging rates of productivity. Anthony Albanese announced a productivity roundtable would be held in Canberra in August to find ways on lifting...[Read More]
Unions hail pay boost for millions of low-paid workers
5 June
Nearly three million low-paid workers will take home an extra $32 a week in pay after the industrial umpire decided to make up for falling real wages and living standards in recent years. The Fair Work Commission delivered a 3.5 per cent increase...[Read More]
Insurance cost warning after disasters hit bottom line
4 June
The economic impacts of natural disasters will extend beyond the federal budget, environmental groups warn as households are told to brace for higher insurance premiums. Treasury figures show a loss of $2.2 billion from economic activity following...[Read More]
Economy stalls as private sector fails to pick up slack
5 June
Temporary factors might have dragged down Australia’s economy but there are warning signs the challenges it faces are more entrenched. Economic growth figures, released by the Australian Bureau of Statistics on Wednesday, paint a gloomy...[Read More]
Weak business investment underlines productivity battle
5 June
Australia’s dire productivity performance doesn’t look like rebounding any time soon, with troubling implications for the Reserve Bank’s interest rate path. Data released on Thursday reinforced the challenge the nation faces to get...[Read More]
National accounts to reveal Australia’s economic pulse
4 June
Australia’s economy is expected to show a mild slow-down when it comes in for its quarterly health check on Wednesday. National accounts figures are predicted to show gross domestic product grew 0.4 per cent in the first three months of 2025 after...[Read More]
Restaurants on the brink as business failures plateau
29 May
The future of many businesses struggling to stay afloat rests upon the Reserve Bank and Donald Trump. Business conditions in Australia remain perilously difficult, with insolvency levels at record highs in April, CreditorWatch reported in its...[Read More]
Egg, housing costs might fry hopes of earlier rate cut
29 May
A jump in the cost of building and renovating homes is not helping the case for more rate cuts. Headline inflation remained steady at 2.4 per cent in the 12 months to April, the Australian Bureau of Statistics reported on Wednesday. But the result...[Read More]
Full extent of Trump’s tariff slap on economy revealed
22 May
Australia’s economy will take an $8 billion dollar hit in 2025 as a result of Donald Trump’s tariffs, the Reserve Bank estimates in updated economic forecasts. Inflation is also expected to come in lower than it otherwise would have, the RBA’s...[Read More]
‘Sustainable’: push to keep low-paid from falling back
22 May
Treasurer Jim Chalmers wants to ensure Australia’s lowest paid workers don’t go backwards, but stresses a real wage rise must not harm the economy. In its formal submission to the Fair Work Commission’s annual review of minimum and award...[Read More]
Trump’s tariff ‘rollercoaster’ raises recession risk
22 May
Australians are being assured the nation is well-placed to avoid a recession as the Reserve Bank expresses alarm over Donald Trump’s trade war “rollercoaster”. Forecasts released by the Reserve Bank of Australia have painted a bleak picture of...[Read More]
Renewables, AI rules top productivity reform wishlist
22 May
Regulating the reckless use of artificial intelligence, speeding up approvals for renewable energy projects, and changing privacy and corporate tax laws will be targeted in a push to boost the Australian economy. The Productivity Commission named 15...[Read More]
Money still on rate cut despite surprise spike in wages
15 May
Economists still expect the Reserve Bank to cut interest rates at its next board meeting despite a surprise spike in wage growth. Wages rose by a higher-than-expected 3.4 per cent over the year to March, Australian Bureau of Statistics figures...[Read More]
Jobs and wage data in focus ahead of interest rate call
15 May
Upcoming wages and unemployment data may have significant bearing on the Reserve Bank’s closely watched interest rate decision. Domestic signals have taken somewhat of a back seat since US President Donald Trump’s tariff dump in early April. But...[Read More]