Economy

Treasurer Jim Chalmers has rejected as “laughable” criticism he has turned his back on the Hawke-Keating reform era in his blueprint for “values-based capitalism”. Chalmers also reveals he spoke with Paul Keating while writing the essay, published in The Monthly. “Capitalism after the crises” looks

Australian retail turnover fell 3.9 per cent in December 2022, according to figures released today by the Australian Bureau of Statistics (ABS). This follows a 1.7 per cent rise in November 2022. Ben Dorber, ABS head of retail statistics, said: “This is the first monthly

CPA Australia’s pre-budget submission recommends funding and changes related to migration, tax reform, non-profit and small/medium business supports, climate change and emissions and the economy. CPA Australia’s senior manager business and investment policy Gavan Ord says “we expect the economy to slow this year as

80% of Australian small business owners feel “confident”, “optimistic” and “cautiously hopeful” about their company’s prospective performance in 2023 despite the economic slowdown, according to new research released today from online accounting software provider Intuit QuickBooks. This outlook is likely informed by their business performance

Arts and recreation services recorded the largest percentage fall in business turnover in November (-6.6 per cent), after dropping 3.2 per cent in October, according to monthly figures released today by the Australian Bureau of Statistics (ABS). Sybille McKeown, ABS head of industry statistics, said

Australia’s visitor economy is forecast to bounce back to pre-pandemic expenditure this year, and grow to $227.7 billion by 2027, according to new forecasts out today. In very welcome news for the sector, this year’s annual Tourism Forecasts for Australia project a brighter future for the visitor

Sky-high inflation, interest rate hikes and increased recession fears changed the consumer behavior resulting in excess inventory. Consequently, the global top 25 retailers by market capitalization (MCap) witnessed a 1.3% ($40bn) quarter-on-quarter decline in their cumulative MCap from $3.37 trillion in Q3 2022 to $

Employment growth in the first six months of the Albanese Government is the strongest for a new Australian Government on record. New analysis of ABS data shows 234,000 more Australians gained work between May and November last year, with employment growth faster than that of any of the

Against the backdrop of what the World Bank sees as worsening economic conditions, it cut its global growth forecasts from predictions it made in the middle of last year. The institution downgraded almost all predictions for advanced economies, reducing its growth outlook for the global