economy

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, Australians are choosing to pop items into their online shopping baskets. Australia Post’s latest report revealed online spending grew by two per cent […]

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 earners will pay less tax under changes waved in at the start of the new financial year. Workers on the award […]

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 is becoming obsolete. While research suggests it may well be, Swinburne University business professor Steve Worthington […]

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 0.2 per cent expected lift. On an annual basis, gross domestic product […]

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 lowest through-the-year growth since 1992, outside of the pandemic * Inflation is […]

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 year’s budget and another boost to Commonwealth Rent Assistance are expected to help tame the consumer price index. […]

Calls to boost Jobseeker and youth allowance payments have been hosed down by Treasurer Jim Chalmers, who says he will look at other ways to help struggling Australians as he prepares his third budget. A dozen top economists have joined a growing chorus of voices in the community sector, academia and elsewhere urging the government […]