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Latest news: Economy

Mining the past opens future prospects for outback city

Mining the past opens future prospects for outback city

The closure of an outback mine that birthed an Australian titan is seen by locals as an opportunity to forge a brighter future for the city and its industry.

Home lending sinks but a stronger 2024 on the horizon

Home lending sinks but a stronger 2024 on the horizon

Home lending sinks but a stronger 2024 on the horizon

Home lending sinks but a stronger 2024 on the horizon

New home loan activity has dipped after a promising few months but improving economic conditions should pave the way for a better 2024.

Prices ease but insurance and housing are still biting

Prices ease but insurance and housing are still biting

Prices ease but insurance and housing are still biting

Prices ease but insurance and housing are still biting

Consumer price growth is coming off the boil but some key essential goods and services are still painfully elevated.

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Inflation rate eases to two-year low in welcome sign

Inflation rate eases to two-year low in welcome sign

A larger-than-expected slowdown in the inflation rate has all but assured there will be no change in interest rates at the Reserve Bank's meeting next week.

Cost of living soaring across Queensland: Report

Cost of living soaring across Queensland: Report

Queenslanders are battling to meet a basic standard of living, with Brisbane leading Australia when it comes to rent, energy, insurance and health price hikes.

Changing of the guard at Future Fund puts Combet at top

Changing of the guard at Future Fund puts Combet at top

Former ACTU leader and Labor minister Greg Combet is the new chair of Australia's sovereign wealth fund, replacing Liberal stalwart Peter Costello.

Unions fear unemployment figures are hiding job losses

Unions fear unemployment figures are hiding job losses

Though the jobless rate has held steady, thousands of Australians lost their jobs in December with many entering part-time and insecure work.

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Unemployment to stay low despite drop in job vacancies

Unemployment to stay low despite drop in job vacancies

Unemployment to stay low despite drop in job vacancies

Unemployment to stay low despite drop in job vacancies

Job vacancies for the November quarter remained high despite a drop of 0.7 per cent, with unemployment tipped to stay low amid global economic pressures.

Slower-than-expected inflation lifts rate pause hopes

Slower-than-expected inflation lifts rate pause hopes

Slower-than-expected inflation lifts rate pause hopes

Slower-than-expected inflation lifts rate pause hopes

Surprisingly lower inflation growth has given mortgage holders renewed hope interest rates won't be lifted again in February.

Supermarkets told to pass on savings at the checkout

Supermarkets told to pass on savings at the checkout

Supermarkets told to pass on savings at the checkout

Supermarkets told to pass on savings at the checkout

Supermarkets have been told to pass on savings as calls echo for the consumer watchdog to launch an inquiry into their behaviour.

Cost of living relief on table but cash handouts vetoed

Cost of living relief on table but cash handouts vetoed

Cost of living relief on table but cash handouts vetoed

Cost of living relief on table but cash handouts vetoed

Finely-tuned government assistance could be on its way for households struggling under cost of living pressures, the prime minister says.

NZ government axes $7b in projects as forecasts worsen

NZ government axes $7b in projects as forecasts worsen

NZ government axes $7b in projects as forecasts worsen

NZ government axes $7b in projects as forecasts worsen

New Zealand Finance Minister Nicola Willis says the previous government were "economic and fiscal vandals", revealing a worsening set of economic forecasts.

Transport costs accelerate by more than $900 a year

Transport costs accelerate by more than $900 a year

Transport costs accelerate by more than $900 a year

Transport costs accelerate by more than $900 a year

Households in some parts of Australia are paying more than $27,000 a year for transport after costs in the industry rose again.

White collar staff among first to face AI wave: report

White collar staff among first to face AI wave: report

White collar staff among first to face AI wave: report

White collar staff among first to face AI wave: report

Professions likely to feel the early impact of artificial intelligence have been identified by a report that warns training must adapt to fit the technology.

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Chalmers open to talks with states on GST

Ahead of a treasurers' meeting, Jim Chalmers says he will work with the states to ensure they get a fair share of goods and services tax revenue.

Carnival Australia shuns big city port over fee hike

Popular Carnival Australia lines Princess Cruises and Cunard will no longer sail from Melbourne in 2025-26 because of a jump in port fees and charges.

Shoppers spend big on Black Friday sales

Australians are tipped to spend more than $6 billion on Black Friday bargains, providing a boost to retailers grappling with a slow year of sales.

End of the road trip: Aussies drive less to save fuel

Seven in every 10 Australian motorists are driving less to avoid rising fuel prices, a new survey shows, amid widespread support for new standards.

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Australia's rental market woes go from bad to worse

Regional areas in the Sunshine State are now the most unaffordable places for renters to live, as affordable housing concerns spread beyond capital cities.

More pain for borrowers as big banks pass on rate hike

Three of Australia's biggest banks have hiked interest rates in response to the Reserve Bank's latest cash rate increase.

Photo finish looms for Melbourne Cup interest rate call

Australian borrowers could be hit with another interest rate hike at a closely run Melbourne Cup Day cash rate call.

Strong competition as Vic economy ranked nation's best

Economic activity, retail spending and business investment has catapulted Victoria to best performing economy in the nation but it faces stiff competition.

Auction jump ahead of expected Cup day rate hike

An expected rate hike on Melbourne Cup Day has impacted the number of homes going under the hammer, with clearance rates tipped to jump.

Xi warns against China decoupling, lauds Belt and Road

Russia's Vladimir Putin was prominent at a Beijing forum where President Xi Jinping criticised Western efforts to reduce dependence on the Chinese economy.

Broadband in the boondocks delivers big jobs boost

Households in regional and remote areas are benefiting most from faster broadband, which is also creating more jobs, according to a report.

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