Economy

The Albanese Government is delivering reforms to modernise Australia’s financial system, positioning our economy to embrace new economic opportunities and respond to future challenges. In 2023, the Government will: Update and strengthen Australia’s payments system; Strengthen our financial market infrastructure; Establish a regulatory framework for

Household wealth fell for the second consecutive quarter, decreasing by 1.9 per cent ($276 billion) in the September quarter 2022, according to figures released today by the Australian Bureau of Statistics (ABS). Total household wealth is now $14.2 trillion, after the previous fall of 3.3 per

Average household debt grew by 7.3 per cent to $261,492 in 2021-22, according to the latest figures from the Australian Bureau of Statistics (ABS). Katherine Keenan, ABS head of Finance and Wealth, said “the dataset released today includes timeseries from 2003-04 to 2021-22 for five

Salesforce and the Australian Retailers Association (ARA) have released new research today which reveals 83 per cent of ANZ retailers have strong confidence in their organisation’s ability to close sales deals despite changing social and economic conditions. The report, which surveyed nearly 8,000 sales professionals

Weaker than expected quarterly GDP figures show Australia faces strong headwinds in order to maintain economic momentum in 2023. “Amid challenging domestic and international economic conditions, the risks facing the Australian economy are mounting,” ACCI chief executive Andrew McKellar said. “While productivity is improving, it

Grant Thornton’s retail industry group reports predictions of strong consumer spending and a return to stores have come true after the Black Friday weekend, although not to the extent retailers were expecting. Black Friday sales data shows Australian consumers have spent $4.97b in global sales, well

Australia’s current account balance decreased by $17.0 billion, resulting in a deficit of $2.3 billion (seasonally adjusted, current prices) in the September quarter 2022, according to the latest figures from the Australian Bureau of Statistics (ABS). Balance of Payments components Australia recorded a $2.3 billion

This year, six in ten people in the UK surveyed by YouGov said they would be spending less on Christmas than they usually would. However, how much less is less? MoneyTransfers.com has taken a look into the different Christmas costs and multiple studies done into Christmas spending in

New data proves cafes and restaurants are feeling the cost of living pinch, but digitisation of hospitality industry key to getting through. New data reveals 20% increase in supplier prices and 13% increase in payment failures across the board due to inflation and rising cost