Online shopping spree despite cost-of-living crisis

17 July

Online retail therapy is still booming despite the cost-of-living crisis putting pressure on Australian wallets. Even with inflation leading to more expensive groceries, interest rates remaining high and wages staying relatively stagnant,...[Read More]

Signs point to slow start for economy in new year

17 July

Australian consumers and business face the prospect of a sluggish economy through early 2025, according to leading indicators. An index of future-focused data points compiled by Westpac and Melbourne Institute “marginally improved” in June while...[Read More]

New poll shows cost of living issues hurting government

17 July

Federal Labor is falling behind in the polls, with a new survey showing cost of living pressures are denting its standing with voters. The government’s primary vote remains at 28 per cent, against a rise for the coalition to 38 per cent, from 36...[Read More]

PM spruiks cost of living measures

3 July

Anthony Albanese is defending the government’s financial aid for voters, as a senator’s suspension threatens to distract from much-heralded energy rebates and other support. Australian households will shave $300 off their energy bills and...[Read More]

Retail sales rise 0.6 per cent as sales start early

3 July

An early start to end-of-financial-year sales lured in bargain-hunters last month, contributing to a larger-than-expected 0.6 per cent lift in retail sales. The monthly gain beat the 0.3 per cent month-on-month consensus forecast and followed a...[Read More]

Hotter-than-expected inflation leaves RBA in tight spot

26 June

An unexpectedly large jump in the monthly consumer price index is unwelcome news for the Reserve Bank of Australia in its lengthy inflation battle. The monthly consumer price index rose four per cent over the 12 months to May, above expectations and...[Read More]

Cash can’t crash: why physical money is here to stay

19 June

It’s said money talks, but the conversation about a cashless society has grown ‘coinvoluted’. From credit and debit cards, to digital wallets on mobile phones – the ways Australians now choose to pay has sparked questions about whether cash...[Read More]

Chalmers eyes soft landing amid budget criticism

19 June

Inflation back within target, an economy that’s still growing and an unemployment rate “with a four in front of it” is the soft landing the federal treasurer is targeting. Jim Chalmers remains cautiously confident the Australian economy can...[Read More]

Sinking ad numbers signal tougher times for job seekers

19 June

Job hunters still have more choice of open roles compared with pre-pandemic levels, even as the average number of ads each week continues to fall. Since the end of 2023, job ad volumes have tumbled 8.2 per cent, reflecting a labour market gradually...[Read More]

Captain Chalmers lines up soft landing on narrow runway

12 June

Global headwinds will continue to buffet Australia’s economy as Treasurer Jim Chalmers sets a course for a final approach towards low inflation. Dr Chalmers is confident Australia remains on track for “a soft landing on a narrow runway”,...[Read More]

Universal childcare would be ‘national asset’, PM says

12 June

Australia already has universal schooling, Medicare and superannuation and the prime minister believes childcare should be treated the same way. Early learning and parenting groups have rallied around a Centre for Policy Development plan to fix the...[Read More]

Economy barely growing as higher interest rates bite

5 June

Australia’s economy is still growing but only just, supported in part by household spending on travel, concerts and other major events. The 0.1 per cent of growth over the first three months of the calendar year, came in a little weaker than the...[Read More]

Australian economy slows over March quarter

5 June

AUSTRALIAN ECONOMY SNAPSHOT – MARCH QUARTER 2024 * Australia’s economy grew slightly by 0.1 per cent in the first three months of the year, less than the expected 0.2 per cent * Annual gross domestic product rose 1.1 per cent, but it’s the...[Read More]

Consumer spending the wildcard in rate hike uncertainty

22 May

Australian consumers have been saving rather than spending and a change in behaviour could complicate matters for the Reserve Bank, keeping interest rates higher for longer. The minutes from the central bank’s May meeting confirmed a rate hike was...[Read More]

Treasurer absorbs warnings on budget fuelling inflation

15 May

While the federal government says its budget will lower inflation, analysts counter that broad cost-of-living relief, such as energy rebates and tax cuts, could make things worse. An expanded version of the energy-bill relief delivered in last...[Read More]