The economy expanded by 3.1 per cent in the final three months of 2020 as Victoria re-opened and consumers started to spend.
The central bank has made clear it will not lift interest rates until it sees sustainable strong wages growth and low unemployment.
The demise of the CBD is greatly exaggerated,according to PwC,which says a new wave of activity is likely for our most economically important areas.
It may not be up there with Bob Dylan going electric,but the way the Morrison government handled a $9 billion spending plan could signal a change in budget politics.
Huge budget deficits will dog every federal government into the 2030s and leave the nation with $1.4 trillion of debt,according to economists.
Finance Department figures show the budget is ahead of mid-year expectations but the government is still on track for the largest deficit in history.
Wage growth remains at a record low,but for some workers who suffered early pandemic pay cuts there was good news with their wages coming back up.
The debate over a higher JobSeeker payment has been dominated by fairness. It turns out a cheap cup of coffee is where fairness meets the budget bottom line.
As the property market shrugs of the COVID-19 recession and prices take off,experts say Australia’s housing affordability crisis is here to stay.
New figures show the national jobless rate fell again,dropping to 6.4 per cent in January,despite the month’s COVID-related closures.
The Morrison government has promised targeted and temporary spending,but figures show the recession will weigh on budget spending for years.