Economy

Australia sees impressive retail spending and business conditions data

March 04, 2022 02:57 PM AEDT| By Akanksha Vashisht

Highlights The ABS recently released the data for retail trade in January and business conditions in February. Non-food online retail sales were higher in January compared to online food retailing. Businesses reported lesser supply-chain disru.....

Biden’s State of Union: Will be first to halve deficit –key takeaways

March 04, 2022 05:26 AM AEDT| By Sanjeeb Baruah

Highlights Biden vows to reduce the fiscal deficit to less than half from when he took office by the end of 2022. President Biden acknowledges the pain inflicted by inflation on ordinary people. Democratic senators have largely praised the pre.....

ABS update: Dwelling approvals drop in January while trade surplus improves

March 03, 2022 03:34 PM AEDT| By Akanksha Vashisht

Highlights Total dwelling approvals fell in January 2022, with private sector dwellings excluding houses leading the fall. The value of total approvals also declined, indicating a cool down in the red-hot property market. The balance on intern.....

Will industry-wide sanctions be able to cripple Russian economy?

March 02, 2022 09:43 PM AEDT| By Sreenivas D Ajankar

Highlights Lots of sanctions have been imposed on Russia by several countries like the US, European Union, Australia, and the UK. Economic sanctions have become the most preferred tool to overcome geopolitical tensions and hurt the country&rsqu.....

Russia-Ukraine war impact on Asian economies

March 02, 2022 06:59 PM AEDT| By Toshiva Jain

Highlights The day Russia invaded Ukraine, stock prices in Asian countries experienced a steep fall. Russia is amongst the largest oil and natural gas producer, and the majority of the Asian nations depend upon the country for energy. Apart fr.....

Markets eye Fed rate hikes, will the RBA follow suit?

March 02, 2022 06:18 PM AEDT| By Akanksha Vashisht

Highlights Speculations are rife that the Fed might adopt an aggressive rate hike policy soon. Central banks across the globe are now recognising the need for slower growth in the economy. To raise interest rates, the RBA holds a condition to .....

Strong demand pushes Australia’s GDP growth to 3.4% in Dec 2021 Qtr

March 02, 2022 02:27 PM AEDT| By Akanksha Vashisht

Highlights Australia’s economic activity expanded by 3.4% during the December 2021 quarter. The surge in GDP was fuelled by a rise in private demand and increased household spending. The data shows that the economy recovered quite well f.....

No cash rate change for another month in Australia

March 01, 2022 04:39 PM AEDT| By Akanksha Vashisht

Highlights The central bank has maintained the cash rate at 10 basis points. The escalation of the Russia-Ukraine war has made commodities more expensive. Once again, the RBA has not given a fixed timeline within which it plans to increa.....

ABS update: Australia sees robust investor lending in January

March 01, 2022 03:11 PM AEDT| By Akanksha Vashisht

Australians indulged heavily in housing investments during January, indicating the continued strength of the real estate market in the country. As per the Australian Bureau of Statistics (ABS), new investor housing loan commitments rose by 6.1% in .....

Australian property prices growth loses momentum in February

March 01, 2022 02:53 PM AEDT| By Damini

Highlights The growth in Australian property values is losing steam, with capital cities recording a sharp slowdown. Sydney posted the first-ever decline of 0.1% in property values since September 2020. Sydney and Melbourne have observed adver.....

Retail spending soars in January 2022 following a December fall

February 28, 2022 02:50 PM AEDT| By Akanksha Vashisht

Australians have continued retail spending this year after exhibiting a slight lull towards the end of 2021. The latest data from the Australian Bureau of Statistics (ABS) reveals that retail sales rebounded to rise 1.8% in January 2022, after a sl.....

Are open borders a fast fix for Australian tourism?

February 28, 2022 01:59 PM AEDT| By Toshiva Jain

Highlights Despite Australian borders reopening, few travel industry runners are not very hopeful of recovery just yet. The travellers now feel repellent to travel in and across Australia because COVID cases rise suddenly, and the governments c.....

Federal election 2022: Can Albanese run a better govt than Morrison?

February 26, 2022 01:37 AM AEDT| By Manisha

Highlights Anthony Albanese, the Federal Opposition Leader, hopes to turf out Australian PM Scott Morrison at the election due in May. Albanese believes that Australia can come back stronger, more resilient, and more self-reliant followin.....

When did Australia last increase its interest rates?

February 25, 2022 01:37 PM AEDT| By Akanksha Vashisht

Highlights Australia is experiencing one of the longest periods of low cash rate maintained at 10 basis points. The rate hike expected this year would be the first in around 12 years of Australian history. The real effects of the government&rs.....

Average full-time earnings soared in 2021. Are good days back for Aussie job seekers?

February 24, 2022 07:25 PM AEDT| By Akanksha Vashisht

Australia seems to be in the middle of a widespread economic resurgence as major economic indicators have been showing considerable improvement in recent months. The economic revival is also evident in the labour market, which is slowly recouping t.....