Treasurer Josh Frydenberg’s economic and fiscal update is based on a $US55-a-tonne iron ore price at a time when the market level are almost double that.
If the Government wants to offer advice on family planning it could consider some planning of its own to create a society better geared towards raising children, not just producing them.
Gold prices neared the last session’s record peak after the US Federal Reserve vowed to keep interest rates near zero as the rapid rise in coronavirus cases dampens hopes for a recovery.
The Consumer Price Index dropped by 1.9 per cent in the June quarter, the largest quarterly fall in the 72-year history of the Consumer Price Index.
But the price of cleaning supplies, non-durable household goods such as toilet paper, furniture and household appliance all rose during the pandemic.
Employment fell 1.1 per cent between mid-June and mid-July, led by a decline in Victoria.
With the world facing an extended period of unprecedented economic and political turmoil, gold’s now got $US2000 in its sights. Some in the market suggest the haven could rise even further.
The contrast between WA and the east’s coronavirus response is stark. We are playing our part, so now we need the rest of the country — Melbourne in particular — to play theirs.
The West Australian
Corporates in the Perth CBD have a responsibility to return employees to the office and assist struggling small businesses, says Lendlease manager Anthony Rowbottam.
“Investors feel more comfortable taking risks when they are confident their government is not going to do anything stupid and can deal with challenges.”
Almost one in 10 Australians will still be out of work next July, according to Treasury modelling that shows a ballooning deficit not seen in a hundred years. See the five graphs that matter the most.
Gold surged to a nine-year peak overnight as an escalation in US-China tensions stoked demand for safety.
Australia’s debt will balloon to levels not seen since World War II with the Morrison Government tomorrow unveiling a $200 billion fiscal black hole as a result of the COVID-19 economic crisis.
The Federal Government will deliver an economic and fiscal update that’s set to show the biggest Budget blowout since World War II.
Michael Heath and Tomoko Sato
Interest rates will not pick up for some time in the wake of the coronavirus crisis but geopolitical scrapping will have a massive impact on the WA economy, according to economic forecasters.
Danielle Le Messurier
The Performance of Construction Index rose 10.6 points to 35.5 in June but stayed well below the 50-point mark that signifies growth.
WA is poised to outperform the national economy during the coronavirus pandemic but will still succumb to the forces driving the wider Australian economy into recession, a new report predicts.
Australia's trade surplus was $8 billion in May, as exports dropped faster than exports.
INSIDER: Ben Harvey finds out what’s next for Bankwest’s chief economist Alan Langford, whose face and voice have become synonymous with economic catastrophe and financial euphoria.
The Government has been “too timid” in its stimulus spending and will need to inject more support post-COVID to avoid a total economic “crash”, economists will tell a parliamentary committee tomorrow.
Total payroll jobs increased 1.0 per cent between mid-May and mid-June, ABS data showed.
Dole-bludging youngsters are refusing to return to their hospitality gigs, with JobSeeker labelled a “designer drug” keeping rich kids on the $1100-a-fortnight COVID welfare train.
The latest trade figures show the value of exported goods plunged $1.3 billion to $29.7b in May, with economists saying the decrease is possibly a sign of things to come.
Up to one third of Australia’s exports to China are “at risk” amid rising trade tensions between the two countries, according to a leading economist.
© West Australian Newspapers Limited 2020