Economy
‘It’s crunch time’: productivity puzzle must be solved to help young Australians
27 August
It’s “crunch time” for the Australian economy. Young Australians face the prospect of being the first generation to be worse off than their parents and Treasurer Jim Chalmers’ economic roundtable is crucial to ensuring that doesn’t happen....[Read More]
Real wages boost for workers, but costs might worry RBA
21 August
Workers have enjoyed the strongest annual growth in real wages in more than five years, but the Reserve Bank will be on alert in case labour costs cause inflation to fire up again. Wages grew by 3.4 per cent in the year to June, slightly above...[Read More]
Bank’s big rate call after ‘ugly’ inflation print
25 September
Mortgage holders might have to wait until next year for more rate relief after a sharp rise in services inflation all but killed off the already slim chance of a September cut. The consumer price index climbed from 2.8 to three per cent for the year...[Read More]
National economy still stuck in ‘productivity malaise’
25 September
Australia’s productivity performance improved in the June quarter, but weak capital investment is still holding back growth in living standards, the Productivity Commission says. Growth in labour productivity – or doing more with less –...[Read More]
Economy shrugs off tariff turmoil to outperform peers
24 September
An influential global economic organisation is warning central banks to be vigilant about inflation, as it fires a broadside at Donald Trump’s political interference with the Federal Reserve. The Paris-based Organisation for Economic Co-operation...[Read More]
Jobs data in focus as economic outlook brightens
18 September
Australia’s unemployment rate is tipped to remain historically low as workers reap the benefits of tighter than average labour market conditions. Economists at ANZ Bank expect the jobless rate to hold steady at 4.2 per cent when the Australian...[Read More]
Consumer confidence dips as households slowly recover
11 September
Australian households are feeling slightly less optimistic about the economy after reeling in their expectations for further interest rate cuts. The Westpac-Melbourne Institute consumer sentiment index fell 3.1 per cent to a “cautiously...[Read More]
Hot economic growth may place further rate cuts on ice
11 September
Australian borrowers have been warned the end of interest rate cuts may be near as a surge in household spending heats up the economy. A surprise jump in economic growth, revealed by the Australian Bureau of Statistics on Wednesday, was followed by...[Read More]
Future Fund eclipses $250b after bumper return
11 September
Australia’s Future Fund has smashed its investment target, delivering a 12.2 per cent return to send the nation’s sovereign wealth fund above $250 billion for the first time. The bumper result for 2024/25 exceeded the fund’s mandate of 6.9 per...[Read More]
AI not a ‘straightforward’ fix for ailing productivity
20 August
Australia has been warned against the “seductive” pull of artificial intelligence as the federal government looks to the technology to help solve its productivity woes. AI is expected to take centre stage during the second day of the...[Read More]
Jobless fall gives RBA room before next rate cut
21 August
A modest fall in the jobless rate shows Australia’s labour market is still resilient, giving the Reserve Bank breathing room before it cuts interest rates again. The unemployment rate edged down to 4.2 per cent in July, the Australian Bureau of...[Read More]
What is the government’s productivity roundtable?
20 August
WHAT IS THE ECONOMIC REFORM ROUNDTABLE? * A three-day event aimed at lifting living standards primarily by boosting productivity, which has stagnated in Australia and other western countries * Prime Minister Anthony Albanese has promised it will...[Read More]
Cutting ‘nightmarish’ red tape may awaken productivity
21 August
Border-crossing tradies and other small business owners are being hammered by regulatory burdens, but a sweeping plan to slash red tape could save them more than $1 billion a year. Canberra-based deck builder Xavier Duffy is forced to navigate a...[Read More]
Real wages boost as annual growth holds at 3.4 per cent
14 August
Wages grew by 3.4 per cent in the year to June, and above expectations, providing a boost to workers’ real incomes. The annual figure was steady from the first quarter, but because inflation fell to 2.1 per cent in that March quarter, real wages...[Read More]
Productivity a tough puzzle for central bank boffins
14 August
Australian living standards will recover slower than expected, the Reserve Bank has forecast, acknowledging it has consistently been wrong about a key economic assumption. Economists at the central bank downgraded their estimate for Australia’s...[Read More]