-
China's slowdown a 'real problem' for Australia, says leading economist | The Business | ABC News
As Jim Chalmers prepares to travel to Beijing for important economic talks, a leading economist says the Treasurer will hopefully gain some insight into the true momentum of Chinese economy.
Managing director of Market Economics and former economic adviser to prime minister Julia Gillard, Stephen Koukoulas says the slowdown in China's economy is a 'real problem' because about third of Australian goods are exported to China, mainly commodities and particularly iron ore.
Mr Koukoulas says price of iron ore has fallen from $US140 a tonne to around $US90 a tonne.
He says that feeds into Australia's monthly trade surplus which has fallen from $15 billion to $5 billion.
He says China's slowdown is happening at an inconvenient time for Australia because our economy is already slowing down....
published: 23 Sep 2024
-
The "Dirty" Economy Of Australia | Economics Explained
The economy of the land down under is reliant on dirt. Yes, literal dirt. Here's why.
Get up to $70 in free stock ➡️ https://public.com/EE
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published: 01 Oct 2021
-
How Australia's Economy Got Rich and Is Getting Dumber | Economy of Australia | Econ
Australia is known for its prosperous economy, but beneath the surface, there are significant challenges and risks. 🇦🇺💼 It has a unique economy, shaped by its geographic isolation, reliance on natural resources, and booming housing market. 🌍⛏️🏡 Australia's population growth, driven by immigration, has fueled economic activity, and the mining boom has transformed the country. 📈👷♂️ However, despite being the world's 13th largest economy, Australia's economic complexity has declined significantly. 📉🔍 In comparison to South Korea's transformation into a high-tech powerhouse, there is a clear need for a serious vision for Australia's future to ensure long-term competitiveness and stability. 🚀🔧🔮 #australia #australiaeconomy #economy #australiavscanada #geopolitics
Support my research and proj...
published: 13 Jul 2024
-
Why Australia's Economy is Doing Surprisingly Badly
Sign up to Brilliant for a free 30 day trial and you'll also get 20% off an annual premium subscription: https://brilliant.org/tldr/
Australia's economy has long been the envy of the Western world. But it seems that in the past few months, it looks like Australia's luck has finally ran out. So, in this video, we're taking a look at what's going on with Australia's economy, and why things might get worse.
🎞 TikTok: https://www.tiktok.com/@tldrnews
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Our mission is to explain news and politics in an impartial, efficient, and accessible way, balancing import and interest while fostering independent thought.
TLDR is a compl...
published: 29 Aug 2024
-
Why the Aussie dollar is expected to keep climbing in 2024 | The Business | ABC News
The Australian dollar has hit its highest level this year so far, buying 68.6 US cents. NAB's Head of FX Strategy, Ray Attrill, says the dollar could buy nearly 70 US cents by the end of 2024.
He says tailwinds for the Aussie dollar include the US Federal Reserve's recent 50 basis point cut, as well as new rate cuts from the People's Bank of China and a raft of support measures to ensure the Chinese economy hits its growth target.
Ray Attrill says there are downside risks too, including the potential introduction of widespread tariffs in the event of a victory by Donald Trump at November's US Presidential Election.
#ABCBusiness
Subscribe: http://ab.co/1svxLVE
ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, fr...
published: 24 Sep 2024
-
Australia's economy growing at one of its slowest rates since 1990s recession | 7NEWS
Australia's economy has slammed on the brakes, growing at its slowest rate since the 1990s recession, excluding the pandemic.
Consumers and small businesses have stopped spending, with only cash injections from the government preventing a downturn.
Subscribe and set 🔔 » https://7news.link/YTSubscribe |
For the latest Australian news and breaking news alerts, connect with 7NEWS online:
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7NEWS combines the trusted and powerful news brands including Sunrise, The Morning Show, The Latest, and 7NEWS.com.au, delivering unique, engaging and continuous coverage on the is...
published: 04 Sep 2024
-
Australia's economy has recorded its weakest growth in years | 7.30
The latest economic data shows just how hard interest rates are now hitting households, with the economy growing at a sluggish rate not seen, outside the pandemic, since the early 1990s.
7.30's chief political correspondent Laura Tingle reports.
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Welcome to ABC News In-depth, where you'll find our long-form journalism and other videos to help you understand what's going on in the world around you.
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published: 04 Sep 2024
-
Rates decision due as Australians polled on cost-of-living crisis | 9 News Australia
The Reserve Bank announces its decision tomorrow but it seems inevitable rates will be held at their highest point since 2011. | Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9 | Get more breaking news at 9News.com.au: http://9Soci.al/iyCO50GjSK6
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published: 23 Sep 2024
-
Consumer recession worsens, as living standards fall for 18 months | The Business | ABC News
Australia's economy barley grew in the June quarter, and expanded just 1 per cent over the last year, according to the Australian Bureau of Statistics. Excluding the COVID-19 pandemic, that's weakest annual growth since the 1990s recession. Individually, Australians continue to go backwards in what's known as per capita recession. Living standards have now been falling for 18 months. With high inflation and high interest rates keeping some households under immense pressure, economic growth in the June quarter was driven by increased spending by governments and population growth. Cash-strapped households barely put much money aside and they cut back on luxuries, like air travel and eating out. Treasurer Jim Chalmers has previously warned the Reserve Bank's 13 interest rate rises are "s...
published: 04 Sep 2024
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How close is Australia to a recession? | The Business | ABC News
Australia's economy barely grew in the first three months of 2024 and outside of the pandemic, it expanded at the slowest annual rate since the 1990s recession. GDP per capita fell for the fifth consecutive quarter but record population growth is keeping Australia out of recession. The Treasurer Jim Chalmers blamed the weak growth on "higher interest rates... persistent inflation and ongoing global uncertainty." Speaking before the data was released, the RBA Governor Michele Bullock warned the central bank "won't hesitate" to raise rates again if it can't get inflation down. Financial markets have now increased the odds of the Reserve Bank lowering the cash rate by the end of 2024.
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Read more here: https://www.abc.net.au/news/2024-06-05/asx-mark...
published: 05 Jun 2024
4:02
China's slowdown a 'real problem' for Australia, says leading economist | The Business | ABC News
As Jim Chalmers prepares to travel to Beijing for important economic talks, a leading economist says the Treasurer will hopefully gain some insight into the tru...
As Jim Chalmers prepares to travel to Beijing for important economic talks, a leading economist says the Treasurer will hopefully gain some insight into the true momentum of Chinese economy.
Managing director of Market Economics and former economic adviser to prime minister Julia Gillard, Stephen Koukoulas says the slowdown in China's economy is a 'real problem' because about third of Australian goods are exported to China, mainly commodities and particularly iron ore.
Mr Koukoulas says price of iron ore has fallen from $US140 a tonne to around $US90 a tonne.
He says that feeds into Australia's monthly trade surplus which has fallen from $15 billion to $5 billion.
He says China's slowdown is happening at an inconvenient time for Australia because our economy is already slowing down.
#ABCBusiness
Subscribe: http://ab.co/1svxLVE
ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
For more from ABC News, click here: https://ab.co/2kxYCZY
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#ABCNews #ABCNewsAustralia
https://wn.com/China's_Slowdown_A_'Real_Problem'_For_Australia,_Says_Leading_Economist_|_The_Business_|_Abc_News
As Jim Chalmers prepares to travel to Beijing for important economic talks, a leading economist says the Treasurer will hopefully gain some insight into the true momentum of Chinese economy.
Managing director of Market Economics and former economic adviser to prime minister Julia Gillard, Stephen Koukoulas says the slowdown in China's economy is a 'real problem' because about third of Australian goods are exported to China, mainly commodities and particularly iron ore.
Mr Koukoulas says price of iron ore has fallen from $US140 a tonne to around $US90 a tonne.
He says that feeds into Australia's monthly trade surplus which has fallen from $15 billion to $5 billion.
He says China's slowdown is happening at an inconvenient time for Australia because our economy is already slowing down.
#ABCBusiness
Subscribe: http://ab.co/1svxLVE
ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
For more from ABC News, click here: https://ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1
Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2
Like ABC News on Facebook: http://facebook.com/abcnews.au
Follow ABC News on Instagram: http://instagram.com/abcnews_au
Follow ABC News on X (Twitter): http://twitter.com/abcnews
Note: In most cases, our captions are auto-generated.
#ABCNews #ABCNewsAustralia
- published: 23 Sep 2024
- views: 15252
20:22
The "Dirty" Economy Of Australia | Economics Explained
The economy of the land down under is reliant on dirt. Yes, literal dirt. Here's why.
Get up to $70 in free stock ➡️ https://public.com/EE
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀...
The economy of the land down under is reliant on dirt. Yes, literal dirt. Here's why.
Get up to $70 in free stock ➡️ https://public.com/EE
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https://wn.com/The_Dirty_Economy_Of_Australia_|_Economics_Explained
The economy of the land down under is reliant on dirt. Yes, literal dirt. Here's why.
Get up to $70 in free stock ➡️ https://public.com/EE
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The video you’re watching right now would not exist without the monthly support provided by our generous Patrons:
Morgon Goranson, Andy Potanin, Wicked Pilates, Tadeáš Ursíny, Logan, Angus Clydesdale, Michael G Harding, Hamad AL-Thani, Conrad Reuter, Tom Szuszai, Ryan Katz, Jack Doe, Igor Bazarny, Ronnie Henriksen, Irsal Mashhor, LT Marshall, Zara Armani, Bharath Chandra Sudheer, Dalton Flanagan, Andrew Harrison, Hispanidad, Michael Tan, Michael A. Dunn, Alex Gogan, Mariana Velasque, Bejomi, Sugga Daddy, Matthew Collinge, Kamar, Kekomod, Edward Flores, Brent Bohlken, Bobby Trusardi, Bryan Alvarez, EmptyMachine, Snuggle Boo Boo ThD, Christmas
- published: 01 Oct 2021
- views: 2299560
16:45
How Australia's Economy Got Rich and Is Getting Dumber | Economy of Australia | Econ
Australia is known for its prosperous economy, but beneath the surface, there are significant challenges and risks. 🇦🇺💼 It has a unique economy, shaped by its g...
Australia is known for its prosperous economy, but beneath the surface, there are significant challenges and risks. 🇦🇺💼 It has a unique economy, shaped by its geographic isolation, reliance on natural resources, and booming housing market. 🌍⛏️🏡 Australia's population growth, driven by immigration, has fueled economic activity, and the mining boom has transformed the country. 📈👷♂️ However, despite being the world's 13th largest economy, Australia's economic complexity has declined significantly. 📉🔍 In comparison to South Korea's transformation into a high-tech powerhouse, there is a clear need for a serious vision for Australia's future to ensure long-term competitiveness and stability. 🚀🔧🔮 #australia #australiaeconomy #economy #australiavscanada #geopolitics
Support my research and projects: https://ko-fi.com/econyt
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Citation: https://pastebin.com/B1YTJYTt
Maps: OpenStreetMap Contribution by GEOlayers 3
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https://wn.com/How_Australia's_Economy_Got_Rich_And_Is_Getting_Dumber_|_Economy_Of_Australia_|_Econ
Australia is known for its prosperous economy, but beneath the surface, there are significant challenges and risks. 🇦🇺💼 It has a unique economy, shaped by its geographic isolation, reliance on natural resources, and booming housing market. 🌍⛏️🏡 Australia's population growth, driven by immigration, has fueled economic activity, and the mining boom has transformed the country. 📈👷♂️ However, despite being the world's 13th largest economy, Australia's economic complexity has declined significantly. 📉🔍 In comparison to South Korea's transformation into a high-tech powerhouse, there is a clear need for a serious vision for Australia's future to ensure long-term competitiveness and stability. 🚀🔧🔮 #australia #australiaeconomy #economy #australiavscanada #geopolitics
Support my research and projects: https://ko-fi.com/econyt
Enjoyed the video?
Comment below! 💬
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Citation: https://pastebin.com/B1YTJYTt
Maps: OpenStreetMap Contribution by GEOlayers 3
Image:
https://commons.wikimedia.org/
Free Vectors/Photos
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Stock Footages:
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- published: 13 Jul 2024
- views: 747283
9:00
Why Australia's Economy is Doing Surprisingly Badly
Sign up to Brilliant for a free 30 day trial and you'll also get 20% off an annual premium subscription: https://brilliant.org/tldr/
Australia's economy has lo...
Sign up to Brilliant for a free 30 day trial and you'll also get 20% off an annual premium subscription: https://brilliant.org/tldr/
Australia's economy has long been the envy of the Western world. But it seems that in the past few months, it looks like Australia's luck has finally ran out. So, in this video, we're taking a look at what's going on with Australia's economy, and why things might get worse.
🎞 TikTok: https://www.tiktok.com/@tldrnews
💡 Got a Topic Suggestion? - https://forms.gle/mahEFmsW1yGTNEYXA
Support TLDR on Patreon: http://www.patreon.com/tldrnews
Donate by PayPal: https://tldrnews.co.uk/funding
Our mission is to explain news and politics in an impartial, efficient, and accessible way, balancing import and interest while fostering independent thought.
TLDR is a completely independent & privately owned media company that's not afraid to tackle the issues we think are most important. The channel is run by a small group of young people, with us hoping to pass on our enthusiasm for politics to other young people. We are primarily fan sourced with most of our funding coming from donations and ad revenue. No shady corporations, no one telling us what to say. We can't wait to grow further and help more people get informed. Help support us by subscribing, engaging and sharing. Thanks!
1 - https://www.datawrapper.de/_/VEEir/
2 - https://twitter.com/JosephPolitano/status/1805636271370391654
3 - https://www.economist.com/the-economist-explains/2017/09/05/how-australia-broke-the-record-for-economic-growth
4 - https://treasury.gov.au/sites/default/files/2019-03/round3-9.pdf
5 - https://twitter.com/mlanetrain/status/1828581509873230030/photo/1
6 - https://theconversation.com/prepare-to-hear-about-an-official-recession-unofficially-weve-been-in-one-for-some-time-224963
7 - https://tradingeconomics.com/australia/monthly-cpi-indicator
8 - https://tradingeconomics.com/australia/interest-rate
9 - https://www.theguardian.com/business/grogonomics/article/2024/jun/06/australia-gdp-figures-recession-fears-rba-spending-too-much
10 - https://www.morningstar.com.au/insights/personal-finance/250560/australian-housing-is-twice-as-expensive-as-the-us
11 - http://www.demographia.com/dhi.pdf
12 - https://tradingeconomics.com/commodity/iron-ore
13 - https://thekoalanews.com/education-as-an-export-for-australia-2022-23/
14 - https://www.theguardian.com/education/commentisfree/article/2024/aug/28/australias-proposed-overseas-student-cap-isnt-just-about-dollars-its-about-people
00:00 - Introduction
01:06 - Context
04:01 - Australia's Economic Crisis
07:28 - Sponsored Content
https://wn.com/Why_Australia's_Economy_Is_Doing_Surprisingly_Badly
Sign up to Brilliant for a free 30 day trial and you'll also get 20% off an annual premium subscription: https://brilliant.org/tldr/
Australia's economy has long been the envy of the Western world. But it seems that in the past few months, it looks like Australia's luck has finally ran out. So, in this video, we're taking a look at what's going on with Australia's economy, and why things might get worse.
🎞 TikTok: https://www.tiktok.com/@tldrnews
💡 Got a Topic Suggestion? - https://forms.gle/mahEFmsW1yGTNEYXA
Support TLDR on Patreon: http://www.patreon.com/tldrnews
Donate by PayPal: https://tldrnews.co.uk/funding
Our mission is to explain news and politics in an impartial, efficient, and accessible way, balancing import and interest while fostering independent thought.
TLDR is a completely independent & privately owned media company that's not afraid to tackle the issues we think are most important. The channel is run by a small group of young people, with us hoping to pass on our enthusiasm for politics to other young people. We are primarily fan sourced with most of our funding coming from donations and ad revenue. No shady corporations, no one telling us what to say. We can't wait to grow further and help more people get informed. Help support us by subscribing, engaging and sharing. Thanks!
1 - https://www.datawrapper.de/_/VEEir/
2 - https://twitter.com/JosephPolitano/status/1805636271370391654
3 - https://www.economist.com/the-economist-explains/2017/09/05/how-australia-broke-the-record-for-economic-growth
4 - https://treasury.gov.au/sites/default/files/2019-03/round3-9.pdf
5 - https://twitter.com/mlanetrain/status/1828581509873230030/photo/1
6 - https://theconversation.com/prepare-to-hear-about-an-official-recession-unofficially-weve-been-in-one-for-some-time-224963
7 - https://tradingeconomics.com/australia/monthly-cpi-indicator
8 - https://tradingeconomics.com/australia/interest-rate
9 - https://www.theguardian.com/business/grogonomics/article/2024/jun/06/australia-gdp-figures-recession-fears-rba-spending-too-much
10 - https://www.morningstar.com.au/insights/personal-finance/250560/australian-housing-is-twice-as-expensive-as-the-us
11 - http://www.demographia.com/dhi.pdf
12 - https://tradingeconomics.com/commodity/iron-ore
13 - https://thekoalanews.com/education-as-an-export-for-australia-2022-23/
14 - https://www.theguardian.com/education/commentisfree/article/2024/aug/28/australias-proposed-overseas-student-cap-isnt-just-about-dollars-its-about-people
00:00 - Introduction
01:06 - Context
04:01 - Australia's Economic Crisis
07:28 - Sponsored Content
- published: 29 Aug 2024
- views: 435730
4:42
Why the Aussie dollar is expected to keep climbing in 2024 | The Business | ABC News
The Australian dollar has hit its highest level this year so far, buying 68.6 US cents. NAB's Head of FX Strategy, Ray Attrill, says the dollar could buy nearly...
The Australian dollar has hit its highest level this year so far, buying 68.6 US cents. NAB's Head of FX Strategy, Ray Attrill, says the dollar could buy nearly 70 US cents by the end of 2024.
He says tailwinds for the Aussie dollar include the US Federal Reserve's recent 50 basis point cut, as well as new rate cuts from the People's Bank of China and a raft of support measures to ensure the Chinese economy hits its growth target.
Ray Attrill says there are downside risks too, including the potential introduction of widespread tariffs in the event of a victory by Donald Trump at November's US Presidential Election.
#ABCBusiness
Subscribe: http://ab.co/1svxLVE
ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
For more from ABC News, click here: https://ab.co/2kxYCZY
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#ABCNews #ABCNewsAustralia
https://wn.com/Why_The_Aussie_Dollar_Is_Expected_To_Keep_Climbing_In_2024_|_The_Business_|_Abc_News
The Australian dollar has hit its highest level this year so far, buying 68.6 US cents. NAB's Head of FX Strategy, Ray Attrill, says the dollar could buy nearly 70 US cents by the end of 2024.
He says tailwinds for the Aussie dollar include the US Federal Reserve's recent 50 basis point cut, as well as new rate cuts from the People's Bank of China and a raft of support measures to ensure the Chinese economy hits its growth target.
Ray Attrill says there are downside risks too, including the potential introduction of widespread tariffs in the event of a victory by Donald Trump at November's US Presidential Election.
#ABCBusiness
Subscribe: http://ab.co/1svxLVE
ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
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- published: 24 Sep 2024
- views: 27631
2:02
Australia's economy growing at one of its slowest rates since 1990s recession | 7NEWS
Australia's economy has slammed on the brakes, growing at its slowest rate since the 1990s recession, excluding the pandemic.
Consumers and small businesses h...
Australia's economy has slammed on the brakes, growing at its slowest rate since the 1990s recession, excluding the pandemic.
Consumers and small businesses have stopped spending, with only cash injections from the government preventing a downturn.
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https://wn.com/Australia's_Economy_Growing_At_One_Of_Its_Slowest_Rates_Since_1990S_Recession_|_7News
Australia's economy has slammed on the brakes, growing at its slowest rate since the 1990s recession, excluding the pandemic.
Consumers and small businesses have stopped spending, with only cash injections from the government preventing a downturn.
Subscribe and set 🔔 » https://7news.link/YTSubscribe |
For the latest Australian news and breaking news alerts, connect with 7NEWS online:
Visit » https://7news.com.au
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7NEWS combines the trusted and powerful news brands including Sunrise, The Morning Show, The Latest, and 7NEWS.com.au, delivering unique, engaging and continuous coverage on the issues that matter most to Australians. Watch 7 News Australia full broadcasts and full episodes nightly at 6pm and weekdays at 11:30am and 4pm on Channel 7 and 7plus.
#BREAKINGNEWS #7NEWS
- published: 04 Sep 2024
- views: 12225
8:07
Australia's economy has recorded its weakest growth in years | 7.30
The latest economic data shows just how hard interest rates are now hitting households, with the economy growing at a sluggish rate not seen, outside the pandem...
The latest economic data shows just how hard interest rates are now hitting households, with the economy growing at a sluggish rate not seen, outside the pandemic, since the early 1990s.
7.30's chief political correspondent Laura Tingle reports.
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https://wn.com/Australia's_Economy_Has_Recorded_Its_Weakest_Growth_In_Years_|_7.30
The latest economic data shows just how hard interest rates are now hitting households, with the economy growing at a sluggish rate not seen, outside the pandemic, since the early 1990s.
7.30's chief political correspondent Laura Tingle reports.
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- published: 04 Sep 2024
- views: 31529
3:57
Rates decision due as Australians polled on cost-of-living crisis | 9 News Australia
The Reserve Bank announces its decision tomorrow but it seems inevitable rates will be held at their highest point since 2011. | Subscribe and 🔔: http://9Soci.a...
The Reserve Bank announces its decision tomorrow but it seems inevitable rates will be held at their highest point since 2011. | Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9 | Get more breaking news at 9News.com.au: http://9Soci.al/iyCO50GjSK6
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https://wn.com/Rates_Decision_Due_As_Australians_Polled_On_Cost_Of_Living_Crisis_|_9_News_Australia
The Reserve Bank announces its decision tomorrow but it seems inevitable rates will be held at their highest point since 2011. | Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9 | Get more breaking news at 9News.com.au: http://9Soci.al/iyCO50GjSK6
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- published: 23 Sep 2024
- views: 23172
3:53
Consumer recession worsens, as living standards fall for 18 months | The Business | ABC News
Australia's economy barley grew in the June quarter, and expanded just 1 per cent over the last year, according to the Australian Bureau of Statistics. Excludi...
Australia's economy barley grew in the June quarter, and expanded just 1 per cent over the last year, according to the Australian Bureau of Statistics. Excluding the COVID-19 pandemic, that's weakest annual growth since the 1990s recession. Individually, Australians continue to go backwards in what's known as per capita recession. Living standards have now been falling for 18 months. With high inflation and high interest rates keeping some households under immense pressure, economic growth in the June quarter was driven by increased spending by governments and population growth. Cash-strapped households barely put much money aside and they cut back on luxuries, like air travel and eating out. Treasurer Jim Chalmers has previously warned the Reserve Bank's 13 interest rate rises are "smashing the economy". Economists expect the RBA to cut rates in early 2025.
#ABCBusiness
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https://wn.com/Consumer_Recession_Worsens,_As_Living_Standards_Fall_For_18_Months_|_The_Business_|_Abc_News
Australia's economy barley grew in the June quarter, and expanded just 1 per cent over the last year, according to the Australian Bureau of Statistics. Excluding the COVID-19 pandemic, that's weakest annual growth since the 1990s recession. Individually, Australians continue to go backwards in what's known as per capita recession. Living standards have now been falling for 18 months. With high inflation and high interest rates keeping some households under immense pressure, economic growth in the June quarter was driven by increased spending by governments and population growth. Cash-strapped households barely put much money aside and they cut back on luxuries, like air travel and eating out. Treasurer Jim Chalmers has previously warned the Reserve Bank's 13 interest rate rises are "smashing the economy". Economists expect the RBA to cut rates in early 2025.
#ABCBusiness
Subscribe: http://ab.co/1svxLVE
Read more here: https://www.abc.net.au/news/2024-09-04/gdp-june-quarter-2024-australia-economic-growth/104305324
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- published: 04 Sep 2024
- views: 130070
7:27
How close is Australia to a recession? | The Business | ABC News
Australia's economy barely grew in the first three months of 2024 and outside of the pandemic, it expanded at the slowest annual rate since the 1990s recession....
Australia's economy barely grew in the first three months of 2024 and outside of the pandemic, it expanded at the slowest annual rate since the 1990s recession. GDP per capita fell for the fifth consecutive quarter but record population growth is keeping Australia out of recession. The Treasurer Jim Chalmers blamed the weak growth on "higher interest rates... persistent inflation and ongoing global uncertainty." Speaking before the data was released, the RBA Governor Michele Bullock warned the central bank "won't hesitate" to raise rates again if it can't get inflation down. Financial markets have now increased the odds of the Reserve Bank lowering the cash rate by the end of 2024.
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Read more here: https://www.abc.net.au/news/2024-06-05/asx-markets-business-live-news-june-5-2024/103936454
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https://wn.com/How_Close_Is_Australia_To_A_Recession_|_The_Business_|_Abc_News
Australia's economy barely grew in the first three months of 2024 and outside of the pandemic, it expanded at the slowest annual rate since the 1990s recession. GDP per capita fell for the fifth consecutive quarter but record population growth is keeping Australia out of recession. The Treasurer Jim Chalmers blamed the weak growth on "higher interest rates... persistent inflation and ongoing global uncertainty." Speaking before the data was released, the RBA Governor Michele Bullock warned the central bank "won't hesitate" to raise rates again if it can't get inflation down. Financial markets have now increased the odds of the Reserve Bank lowering the cash rate by the end of 2024.
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Read more here: https://www.abc.net.au/news/2024-06-05/asx-markets-business-live-news-june-5-2024/103936454
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- published: 05 Jun 2024
- views: 159964