Eco

Consumer sentiment slumps as budget worries weigh

A measure of Australian consumer sentiment suffered a sharp reversal in September as households became more concerned about the outlook for the economy and employment.

Property

Fancy a million-dollar parking spot?

The site in SoHo, where the apartment complex with the $US1 million car spots is being built.

Michelle Higgins At $US250,000 ($271,471) a tyre, these parking spaces in Manhattan cost more than four times the median home price in the US.

Economy

Business confidence sags in August

The transport industry has joined miners in downgrading its outlook for business conditions.

Mark Mulligan Business confidence sagged in August, wiping out July's improvement, as wholesalers, the transport industry and utilities joined mining companies in downgrading their outlook for trading conditions...

Lending

Investors still driving new housing loans

Growth in new home loans is being fuelled by investors.

Mark Mulligan Property investors are not far off snapping up the majority share of Australia's new home loans, taking out a record proportion of Australia's new housing finance in July.

Eco

Job ads up despite shock July jobless rate

Job ads rose 1.5 per cent in August and are up eight per cent over the year to date.

Stephen Cauchi Rising job ad numbers suggest the labour market is improving, despite the shock jump in July's unemployment rate.

Economy

Why GDP doesn't tell the full story

Much of the benefit of the third phase of the current export boom will be felt overseas, says Saul Eslake.

Max Mason The resources boom helped Australia avoid recession during the global financial crisis, but the ripple on effect has created a two-speed economy where traditional measures of growth no longer give...

Economy

Ross Garnaut urges Reserve Bank to end its housing market fixation and drop interest rates

Ross Garnaut appeals for lower interest rates.

Gareth Hutchens and Clancy Yeates One of Australia’s preeminent economists has warned the “whole economy” needs lower interest rates but the Reserve Bank’s concern with the housing market is preventing that...

Eco

Super changes to hurt low income earners the most: expert

“It is a very disappointing decision for all Australians that will disproprotionately disadvantage lower income earners,” HOSTPLUS chief investment officer Sam Sicilia said.

Sally Rose The chief investment officer of one of Australia’s largest and fastest growing superannuation funds, HOSTPLUS, has added his voice to the chorus of disappointment at this week’s Senate...

Economy

Consumer spending up in July, but pace slows

Spending in department stores rose 1.9 per cent in July.

Mark Mulligan Consumer spending continued to pick up in July, but at a slower pace than in June, according to figures out on Thursday.

Eco

Australia Post pushes for 'urgent reform'

Australia Post managing director Ahmed Fahour said the changes meant the business represents a shift from

Alana Schetzer Australians are set to be forced to pay more for 'regular' mail delivery as Australia Post pushes forward with its proposed shake-up of its dwindling letters service.

Eco

Letters deliver profit slump for Australia Post

Losses from the letter-delivery business blew out to $328.4 million for the full year.

Rose Powell Australia Post announced a sharp slump in profit on Thursday morning, and added a dire warning about the future of the government-owned business.

RBA chief warns on booming property market

RBA chief Glenn Stevens.

Clancy Yeates Reserve Bank governor Glenn Stevens has delivered a blunt warning on the booming property market, highlighting the dangers of pumping up house prices from "already elevated" levels.

Innovation

Tech sector calls on government to improve startup funding

Startups such as rapidly growing design software Canva have received Commercialisation Ai funding.

Rose Powell The technology industry has called on the government to change several rules in an incoming startup grant program to address market failures holding new tech companies back.

Housing

RBA governor Glenn Stevens warns of housing bubble risk

Glenn Stevens

Mark Mulligan Reserve Bank of Australia governor Glenn Stevens has warned about the creation of asset bubbles in the current low interest rate environment.

Interest rates

Rates are on hold - but for how much longer?

Glenn Stevens

Misa Han The Reserve Bank of Australia is on track to break its record for the longest spell of cash rate inertia, with most major economists forecasting the central bank will sit on its hands well into 2015.

Economy

RBA governor Glenn Stevens calls for more business investment

Mark Mulligan Reserve Bank of Australia governor Glenn Stevens has called on business to invest more to speed up the transition away from resources-based growth.

Economy

What the GDP figure for June really means

GDP

Gareth Hutchens GDP is a backward looking economic indicator.

Tourism

Tourist spending jumps to record $30.1b in Australia

A record 6.1 million international visitors came to Australia last year, up 8 per cent from the prior year.

Jamie Freed Spending by international visitors to Australia rose to a record $30.1 billion in the financial year ended June 30, up 7 per cent from the prior year due to a strong rise in the number of...

Eco

Red tape holding back Australia: WEF

Dollars

Jared Lynch Red tape and a "rigid" labour force are hammering Australia's global competitiveness, according to the World Economic Forum.

GDP

Economic growth slows to 0.5 per cent in June quarter

A big fall in exports cut growth in the June quarter

Mark Mulligan The Australian economy grew a mere 0.5 per cent in the June quarter as a steep fall in export values and weak capital expenditure crimped national output.