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Latest news: Economy

Australia shouldn't try to reinvent the AI wheel

Australia shouldn't try to reinvent the AI wheel

Australian companies should boost productivity by using existing artificial intelligence tools rather than trying to create sovereign models, a US expert says.

House price growth spurt shows no signs of easing

House price growth spurt shows no signs of easing

House price growth spurt shows no signs of easing

House price growth spurt shows no signs of easing

Further interest rate cuts on the horizon have stirred the nation's housing market with prices rising for a sixth straight month alongside demand.

Jigsaw coming together for further interest rate relief

Jigsaw coming together for further interest rate relief

Jigsaw coming together for further interest rate relief

Jigsaw coming together for further interest rate relief

A soft inflation print and surprisingly strong retail sales paint a rosy picture of the Australian economy ahead of a key Reserve Bank rate meeting.

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Rate cut looms as inflation result brings RBA 'comfort'

Rate cut looms as inflation result brings RBA 'comfort'

The Reserve Bank should have "all the comfort it needs" to cut interest rates again in August after underlying inflation fell to a three-and-a-half year low.

West is best economically as eastern states left behind

West is best economically as eastern states left behind

Western Australia remains the top economic performer in CommSec's State of the States rankings, but its "breakneck" growth is starting to lose momentum.

House prices break records as rent unaffordably high

House prices break records as rent unaffordably high

Property prices have soared to record highs in most capital cities, prompting buyers to shift expectations amid increasing high rental prices.

Online shopping rebounds as rate cut talk opens wallets

Online shopping rebounds as rate cut talk opens wallets

Australians are spending more online as inflation eases and interest rate cuts seem more likely following a lean period, especially for some home-buyers.

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The 'critical' data that could greenlight next rate cut

The 'critical' data that could greenlight next rate cut

The 'critical' data that could greenlight next rate cut

The 'critical' data that could greenlight next rate cut

Economists await key quarterly data that could put the odds firmly in favour of an August interest rate cut, as the Reserve Bank sheds light on its shock hold.

Four day week firms as win-win for workers and business

Four day week firms as win-win for workers and business

Four day week firms as win-win for workers and business

Four day week firms as win-win for workers and business

Cutting one day from the working week could reduce burnout and increase job satisfaction, a study has found, but it could also boost productivity.

Nation on notice as signs point to growing jobless rate

Nation on notice as signs point to growing jobless rate

Nation on notice as signs point to growing jobless rate

Nation on notice as signs point to growing jobless rate

Australians are being warned about possible further rises in unemployment after a shock jobless rate jump that has strengthened the case to cut interest rates.

Home truths on housing target in leaked Treasury advice

Home truths on housing target in leaked Treasury advice

Home truths on housing target in leaked Treasury advice

Home truths on housing target in leaked Treasury advice

Leaked advice on the government's new home target has failed to ruffle the treasurer, who says having an ambitious goal is better than building too few homes.

'Crisis': animal shelters struggling to survive

'Crisis': animal shelters struggling to survive

'Crisis': animal shelters struggling to survive

'Crisis': animal shelters struggling to survive

Animal shelters around Australia are struggling financially, battling to keep their doors open or dealing with long wait-lists for surrenders.

Surprise rate hold another blow for consumer confidence

Surprise rate hold another blow for consumer confidence

Surprise rate hold another blow for consumer confidence

Surprise rate hold another blow for consumer confidence

Fewer rate cuts than expected will further weaken already fragile consumer confidence, as the Commonwealth Bank records a gradual household spending recovery.

Slow rate of cuts puts squeeze on business, households

Slow rate of cuts puts squeeze on business, households

Slow rate of cuts puts squeeze on business, households

Slow rate of cuts puts squeeze on business, households

Businesses and mortgage-holders banking on a cut to interest rates will have to wait more than a month before the next opportunity for financial stimulus.

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Rubio to make first Asia trip as Trump unveils tariffs

The first visit to Asia by the Trump administration's top diplomat comes as the US president announces tariffs on America's key allies in the region.

Utes dominate vehicles sales and push BYD past Tesla

Australia's love affair with the ute has dominated new vehicle sales during June, but one hybrid model has had an unusual impact on Australia's auto market.

House prices creep higher as new building lags target

Falling interest rates and an ongoing housing shortfall are driving property prices higher, but affordability constraints will keep a lid on growth.

Pricier supermarkets sour on grocery cost survey

A consumer group has measured the cost of a basket of groceries nationwide but two supermarkets are pushing back against the findings.

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Shock inflation drop boosts rate-cut hopes

Inflation levels have fallen to 2.1 per cent in the year to May, defying market predictions and increasing the odds the Reserve Bank will reduce interest rates.

Green tick: Australian net-zero projects to be rated

Environmental projects will be analysed and rated in Australia in a move experts say could prevent greenwashing and encourage international investments.

Homebuyers stand to win as big bank ups rate-cut bet

Westpac's chief economist has added two more rate cuts to her forecast for 2026 with lower immigration expected to drive down rents and inflation.

Australian shares nudge record before late-session slip

The local bourse has finished the session slightly lower after briefly surpassing its highest ever close in earlier trading.

Australia's big car love affair still fuelling sales

SUVs and utes have proven the big sellers on Australian car lots in May but the popularity of hybrid and electric vehicles is accelerating.

US gives countries deadline for trade offers: report

A letter suggests the US government will evaluate responses of trading partners and offer "a possible landing zone" that could include a reciprocal tariff rate.

How red tape removal became a progressive rallying cry

Decades of creeping over-regulation are holding back the housing, infrastructure and research Australia needs, a federal Labor MP says.

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