Economy

Retail trade figures for March released on 3 May have underlined the need for urgent cost of living relief for households in next week’s Federal Budget, the National Retail Association has said. NRA CEO Greg Griffith said under normal circumstances retailers would welcome growth in

The upcoming Australian budget for 2023-24, set to be announced on 09 May 2023, is anticipated to alleviate the cost-of-living crisis caused by the elevated price levels through significant stimulus packages. Additionally, the government is expected to prioritize energy transition, digitization, and defence. Against this

Victoria’s jobs growth is leading the nation following another surge in employment as the state’s sustained economic recovery delivers benefits for workers and businesses. Today’s Australian Bureau of Statistics (ABS) figures show that 39,200 new jobs were created in Victoria last month, significantly more than

It has long been known that incomes in Australia are more evenly distributed than in the United States. But Australia has been thought to be a less equal society than many European ones, sitting somewhere in the middle between the United States and countries such

Household spending rose 11.8 per cent in February compared to the same time last year, according to figures released today by the Australian Bureau of Statistics (ABS). Robert Ewing, ABS head of business indicators, said that this represented slower growth in household spending, as through-the-year

Inflation is impacting business confidence. Small business confidence has dropped by 4 percentage points to 30 per cent since the February survey, the second consecutive monthly fall. High inflation and interest rates continue to affect businesses significantly. The level of consumer spending and demand is

New data that’s been dubbed an “alarm bell” by one of the country’s leading payments companies reveals NSW, Queensland and Tasmania are leading Australia’s battle for online business, according to research from payments fintech Airwallex’s first Digital Economy Index. Key findings from the Digital Economy

The Reserve Bank of Australia (RBA) has been implementing various monetary policy measures to address the rising cost of living in the country. This is in response to the increasing inflation rate that has been plaguing the Australian economy over the past year. However, the