Tax cuts don’t appear to be fuelling shopping sprees, with transaction data suggesting extra take-home pay is going towards staples and paying down debt. Footy finals were the only bright spot in an otherwise glum September for spending, with recreation recording the only rise in a discretionary category over the month. Commonwealth Bank’s spending indicator, […]
Stage three tax cut spending spree yet to surface Read More »
Parts of Victoria and Queensland are leading the charge for new jobs being created, figures show. Analysis of Australian Bureau of Statistics labour data show Melbourne and southeast Queensland had the greatest increase in employment in the year to August. The statistical area of West Melbourne had the largest growth in the 12-month period at […]
Melbourne, SE Qld lead way for new jobs figures Read More »
More businesses are struggling to pay outstanding invoices to suppliers though the proportion falling behind is still below pre-pandemic levels. Wednesday’s risk update from CreditorWatch suggests lacklustre consumer spending and elevated costs of doing business have firms paying late at the highest rate since March 2021. The rate of payments more than 60 days in […]
Outstanding invoices go unpaid as businesses squeezed Read More »
Consumers can see light at the end of the tunnel as fears of further interest rate hikes fade. As signs of improving consumer and business confidence emerged, minutes from the Reserve Bank of Australia’s last meeting confirmed the case to lift interest rates again was not explicitly discussed. Commonwealth Bank head of Australian economics Gareth […]
Spring brings brighter outlook as rate hike fears fade Read More »
A drop in inflation has been welcomed as a small respite for struggling shoppers but households are being warned prices are set to bounce around and not come down in a straight line. Inflation cooled to 2.7 per cent in the 12 months to August, down from 3.5 per cent in July, taking it to […]
Power subsidies and cheaper petrol drive down inflation Read More »
Australians have been gifted a slight reprieve, with inflation moderating to 2.7 per cent as price pressures hurt shoppers at the checkout. The drop in the inflation figure spanning the 12 months to August was spurred by a decrease in transport (-1.1 per cent) while housing (2.6 per cent), food and beverages (3.4 per cent) […]
Slight reprieve as inflation cools to 2.7 per cent Read More »
Australian business leaders are broadly optimistic about the state of the economy and more than half plan to hire and bolster workforces. Nearly nine in 10 Australian chief executive officers surveyed were confident about the economy despite a sluggish few quarters of growth engineered by policymakers trying to tamp down inflation. KPMG’s survey of more […]
Business leaders eye economic light at end of tunnel Read More »
Big economic reform is still possible if the government and businesses can put aside differences, the prime minister says, following criticism from a major lobby group. The government remained committed to the corporate sector, especially as there was overlap between the two groups, Anthony Albanese has told business leaders. His speech at the Business Council […]
Let’s do business: PM reform plea to corporate leaders Read More »
Fears of a tougher jobs market is starting to muscle out cost-of-living pain as the top concern playing on consumer minds. Less chatter about interest rate hikes, tax cuts and power bill rebates from state and federal governments has boosted optimism concerning family finances, surveying suggests. Improved attitudes towards household budgets was more than offset […]
A tougher jobs market is becoming top concern playing on consumer minds Read More »
The prime minister has challenged the opposition to detail planned budget cuts should the coalition win government, after it said it could make “significant” reductions in spending. Shadow treasurer Angus Taylor flagged that the coalition has identified a large number of cost-cutting measures ahead of the federal election, due to be held by May. While […]
PM lays down budget challenge on coalition cuts Read More »
"Need-to-know" legal and commercial information to help you and your business prosper.
