News | Latest Breaking News Stories & Headlines

Australia's Q2 GDP growth quickens to two year high

Australia's economy grew at the fastest annual pace in almost two years in the second quarter as consumers finally started spending after multiple rate cuts, taking over from the government as the main driver of growth.

Business • 03 Sep

Australia's GDP rose 0.3% in the September quarter, missing market forecasts of 0.4%

Australia's third quarter GDP growth disappoints

Australia's economy in the third quarter grew at the slowest annual pace since the pandemic, disappointing hopes for a rebound as government spending did all of the heavy lifting and consumers remained cautious.

Business • 04 Dec 24

Australia's economy barely grew in the third quarter as exports flagged and households were reluctant to spend

Australia's economy slows to a crawl in third quarter

Australia's economy barely grew in the third quarter as exports flagged and households - reeling from a surge in mortgage payments - were reluctant to spend, suggesting rate increases were working to restrain demand.

Business • 06 Dec 23

Data from the Australian Bureau of Statistics showed GDP rose 0.4% in the second quarter, slightly beating forecasts of 0.3%

Australian economy grows modestly in Q2

Australia's economy expanded by more than expected in the second quarter, driven by exports and investment, while household consumption remained weak as decade-high interest rates worked to cool demand.

Business • 06 Sep 23

The Reserve Bank of Australia has left interest rates unchanged today

Australia pauses rate hikes to assess inflation

Australia's central bank has left its cash rate unchanged at 3.6% to break a run of 10 hikes in a row, saying it wanted additional time to assess the impact of past increases as the economy slows and inflation has peaked.

Business • 04 Apr 23

Reserve Bank of Australia Governor Philip Lowe said interest rates were not expected to rise from record lows until 2024

Australia's central bank optimistic on recovery

Australia's top central banker has said that the coronavirus lockdowns would cause a sharp contraction in the economy this quarter but was confident activity would rebound quickly once restrictions were eased in coming months.

Business • 14 Sep 21

Australia's economy grew 0.7% in the three months from April to June as household spending and government expenditure jumped

Australian growth beats forecasts in second quarter

Australia's economy expanded more than expected in the second quarter, easing concerns that the country could suffer a double-dip recession as it battles a fresh wave of Covid infections thanks to a pick-up in domestic demand.

Business • 01 Sep 21

Australia holds interest rates as housing market booms

Australia's central bank held rates at near-zero in a widely expected move today as easy monetary and fiscal policies propped up the coronavirus-hit economy, fueling demand for homes and boosting construction activity.

Business • 01 Dec 20

The Reserve Bank of Australia cut the cash rate from 0.25% to 0.1% today

Australia cuts interest rates to historic lows

Australia's central bank has today cut interest rates to historic lows and ramped up its huge bond-buying programme in a push to help revive the country's pandemic-hit economy as it emerges from lockdowns.

Business • 03 Nov 20

The Reserve Bank of Australia kept interest rates unchanged at an all-time low of 0.25%

Australia's central bank holds interest rates steady

Australia's central bank today held its cash rate at a record low but hinted at further monetary easing as it looks to create jobs in the coronavirus-ravaged economy, which is suffering its worst contraction since the Great Depression.

Business • 06 Oct 20

Taging bushfires and the coronavirus crisis wreaking havoc with Australia's tourism and travel at the start of the year

Australian economic growth picks up but outlook cloudy

Australia's economy expanded by more than expected in the last quarter, easing the risk of a recession.

Business • 04 Mar 20

Australian consumer confidence slumped last week to its lowest level in more than four years as bushfires continue to rage

Australia's bushfires start to hit economy

The peak summer holiday period should bring boatloads of cruise-ship passengers and other holiday makers to the Australian coastal town of Eden, with visitors thronging stores like Lynn Baxter's newsagent.

Business • 10 Jan 20

Australia's GDP rose 0.4% in the September quarter, missing forecasts of 0.5%

Australian economy stuck in slow lane in Q3

Australia's economy struggled in the third quarter as cash-strapped consumers refused to spend, even going so far as saving a tax give-away that had been touted by the government as a major fiscal boost.

Business • 04 Dec 19

Reserve Bank of Australia officials said the economy was still in 'reasonable' shape despite weak inflation and wage growth

Australian reserve bank holds rates, signals future cut

Australia's central bank left interest rates on hold today, brushing off calls for a cut to protect the country's 27-year recession-free run.

Business • 07 May 19

Australia's economy grew by just 0.3% between July and September, the slowest rate in two years

Australian economy stalls as consumers spend less

Australia's economic growth stalled in the third-quarter of the year with consumer spending running out of steam as house prices fell further, official data showed today.

Business • 05 Dec 18

Australia's economy grew by 0.9% in the second quarter of 2018

Australia's economy storms ahead in second quarter

Australia's economy sped past all expectations in the last quarter as rapid population growth fuelled demand for homes and infrastructure.

Business • 05 Sep 18

The Reserve Bank of Australia held policy rates at 1.5% for a 22nd meeting in a row today

Australia keep interest rates unchanged

Australia's central bank left interest rates at record lows today, as expected.

Business • 05 Jun 18

Analysts said today's data reaffirmed expectations that the Reserve Bank was unlikely to lift rates until later this year or early 2019

Australia slows as weak exports impact economic growth

Australia's economic expansion slowed in the last three months of 2017 despite a lift in consumer spending as net exports weighed on growth, official data showed today.

Business • 07 Mar 18

The Reserve Bank of Australia said it expects the country's GDP to 'grow faster in 2018 than it did in 2017'

Australia's central bank less upbeat on growth

Australia's central bank left interest rates at record lows today, as expected, and sounded less confident that the economy would grow at 3% or more this year.

Business • 06 Mar 18

The Australian economy has had uninterrupted growth for the last 26 years

Business investment boosts Australia's economy

Australia's economy grew by 0.6% in the third-quarter, as business investment lifted despite weak household spending, reflecting the divergence between the two segments.

Business • 06 Dec 17

The Reserve Bank of Australia keeps interest rates at a record low of 1.5%

Australia holds rates steady ahead of budget

Australia's central bank held interest rates at a record low 1.5% today after annual inflation moved back into its target range, as it treads water ahead of the federal budget next week.

Business • 02 May 17

No changes in Australia's interest rates

Australia's central bank keeps rates on hold

Australia's central bank held interest rates at a record low of 1.5% today but soft inflation and growth figures kept the door open for future cuts.

Business • 07 Feb 17

Australia's gross domestic product fell 0.5% in the third quarter

Australia sees first contraction since 2011

Australia's economy shrank for the first time in over five years last quarter as businesses, consumers and government all cut back on spending, an unexpected blow that will challenge policymakers' optimism for growth.

Business • 07 Dec 16

Australian economy