Economy

Price disadvantageAussie manufacturing not our COVID-19 panacea

A new report by Deloitte Access Economics has hosed down suggestions of a recovery in Australian manufacturing in the wake of the COVID-19 pandemic.

Sean Smith

DashboardAll eyes on economic health checks from RBA

Expect a feel this week for how our economy will fare as Australia’s second most populous State battles community transmission of COVID-19.

Neale Prior

Economic shock‘Kick in the guts’: Vic shutdown adds to fiscal pain

The tighter restrictions threaten to exacerbate Australia’s first recession in almost 30 years, with previous estimates a six-week Melbourne lockdown would cost the economy $2.4 billion.

Chelsea Mes

EconomyAustralian housing values continue to fall

There were few bright spots for housing values across the nation in July, according to CoreLogic data, with Melbourne leading the declines.

Head startRio puts $60m into WA jobs of the future

Rio Tinto, plagued by months of controversy after destroying a sacred indigenous site in the Pilbara, will announce an almost $60 million investment in training and development in WA.

Lanai Scarr

Economic recoveryManufacturing jobs key to economic recovery: Nev Power

The head of the PM’s COVID-19 economic recovery Nev Power says manufacturing and processing jobs will be key to WA’s future.

Kate Ryan

‘It’s part of me now’Shocking scale of Perth homeless crisis revealed

After an abusive and traumatic childhood, Bec started living on the streets. More than 10 years later, homelessness is part of her identity. She is one of more than 9000 in WA in need of a home.

Annabel Hennessy

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Real estate hot list
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Perth’s fastest-selling suburbs revealed

Despite coronavirus-related economic anxiety, pockets of Perth are becoming a seller’s market with homes in some suburbs selling in fewer than three days. DID YOUR SUBURB MAKE THE LIST?

Kim Macdonald

Bleak pictureCCIWA warns worst of economic storm on its way

Western Australia’s peak business group has warned business investment — ex-mining — is set to slump as the uncertain economic environment continues to drive sentiment.

Meilin Chew

Island rebootExpats ‘hanging in there’ to protect Bali businesses

West Australian expats with businesses in Bali are hopeful the return of domestic tourism will inject much-needed rupiah back into the economy, which has never suffered a worse hit than COVID-19.

Danielle Le Messurier

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COVID sees one in five WA couples defer baby plans

Calls for young couples to get busy procreating are falling on deaf ears with 18 per cent of West Australians saying they’re holding off on starting a family because of the coronavirus.

Josh Zimmerman and Caitlyn Rintoul

Support neededBusinesses hope recovery plan has the right ingredients

WA business owners say that while the Federal Government has provided a lifeline with JobKeeper, it remains to be seen whether the State Government has come up with the right mix.

Meilin Chew

Gadgets boomBig tech surges during pandemic

The largest US technology companies are thriving in a pandemic that has increased dependence on their products and services, while hammering much of the rest of the economy.

Ian King

Figures stingUS rebound uncertain after historic GDP plunge

The full scope of the pandemic’s toll on the US economy was on display overnight when government officials reported that gross domestic product shrank the most on record.

Reade Pickert, Katia Dmitrieva, Olivia Rockeman and Maeve Sheehey

Health checkPandemic uncertainty beginning to bite again in WA

WA small business owners feel they are “not out of the woods” yet, with the pandemic still weighing on sentiment despite there being no community transmission.

Meilin Chew

Forecast pessimismWhy is Frydenberg low-balling iron ore price?

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.

Michael Heath

Going strongWA grows share of mining jobs despite COVID-19

WA grew its share of national mining job ads to almost half at the height of the pandemic in another sign the State remains the powerhouse of Australia’s ailing virus-hit economy.

Kate Purnell

COVID recovery$3M Town Beach fishing jetty among recovery plans

Premier Mark McGowan unveiled the details of the $111 million Kimberley Recovery Plan in Broome this morning

Jakeb Waddell

Worse than expectedWA records double-digit fall in building approvals

Home building approvals have fallen for another month to an eight-year low in June, as the housing sector struggles to recover from the coronavirus pandemic.

Sombre toneAll it takes: US Fed in for long haul to recovery

The central bank has left interest rates near zero and vowed to use all its tools to support the recovery from an economic downturn chairman Jerome Powell called the most severe “in our lifetime”.

Matthew Boesler and Catarina Saraiva

Shining brightGold nears record after US Fed flags risks

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.

Swati Verma

Blue skyRebranded Eagers sees car sales ‘recovery’

Australia’s biggest car dealer says sales have improved since virus lockdowns eased in WA and other States, but it worries about a Victoria-like second wave.

Sean Smith