Hardly smooth sailing, but stabilised
Ben Butler Continuing low consumer confidence and an impending federal election mean an upswing in the non-mining economy is at least six months away, corporate leaders say.
Manufacturing still on the way down
Manufacturing activity fell for the 10th consecutive month in December amid continued weakness in the global economy, a private survey shows.
Malcolm Maiden
Budget hole too big to fill
Malcolm Maiden Wayne Swan has wisely listened to the advice of experts and decided against finding spending cuts or new revenue to force a surplus.
Swan dumps surplus pledge
The Treasurer abandons the pledge to return the budget to surplus next year, blaming the strong dollar and lower export earnings for blowing a massive hole in tax takings.
China slowdown cost Australia billions
The downturn in China’s economy has sliced $US2.4 billion off Australia’s economic growth and led to a slide in export income of $US2.6 billion, a UN report finds.
Mining blamed for productivity slowdown
Su-Lin Tan The sector that has contributed most in recent years to the rise in Australia’s economic prosperity is also the main cause of the nation’s productivity slowdown.
ANZ slashes RBA cash rate forecast
Max Mason ANZ has drastically cut its interest rate forecasts for next year, citing a sharp weakening in the mining sector, higher unemployment and the strong dollar.
Increase the GST, urges OECD
Clancy Yeates THE Organisation for Economic Co-operation and Development has urged the federal government to consider raising the GST and widening the mining tax, in a bid to shore up the budget's long-term health.
Surplus not a requirement: OECD
Clancy Yeates The OECD has given Treasurer Wayne Swan the green light to delay the budget's planned return to surplus this financial year if the economy deteriorates more than expected.
No damage if surplus dumped: economists
Economists believe the federal government can ditch its much promised budget surplus without damaging its triple-A credit rating.
No Christmas cheer in consumer confidence
Glenda Kwek A pre-Christmas gloom has descended around consumer confidence, which recorded a surprise fall despite the Reserve Bank’s interest rate cut, according to a private survey.
Pessimism reigns: confidence at GFC-lows
Glenda Kwek Business is at its gloomiest since the heights of the global financial crisis, with confidence taking a big hit in November, a NAB survey finds.
Weak housing data supports rate cut
Home-loan approvals rose less than economists forecast in October even after RBA interest-rate reductions, aimed at stimulating the economy and boosting the housing market.
Michael Pascoe
Stubborn unemployment refuses to rocket
Michael Pascoe The fall in the jobless rate must be frustrating the bears as much as flat housing investment frustrates the bulls - but today's numbers aren't all that good either.
Surprise drop in jobless rate
Glenda Kwek The jobless rate fell to 5.2 per cent in November, as a surprisingly strong economy added 13,900 jobs in the month.
'New normal': low rates, high dollar
Lending rates need to be lower than in the past, in part to offset the impact of an ''uncomfortably high exchange rate'', the RBA's Philip Lowe says.
Forget the surplus as economy heads south: economists
Peter Martin Economic growth is set for a fall, business investment will hit the wall and the government is heading for a deficit this financial year, economists say.
Michael Pascoe
Swan and Hockey race to fiscal cliff
Michael Pascoe Australia’s mini fiscal cliff seems obvious to everyone except the federal Treasurer and his shadow, both pointing everywhere else as they wrestle each other over the edge.
National economy grows at slower rate
Glenda Kwek Australia’s economy has grown by 0.5 per cent in the three months to September for an annual rate of 3.1 per cent, the Australian Bureau of Statistics says.
Sharp fall in building approvals
A sharp fall in building approvals is another sign the Reserve Bank of Australia should cut the cash rate at its monthly board meeting.
