Strict lockdowns to stop the spread of Delta may have hit the economy harder than expected,fuelling fears the recovery from the pandemic could be derailed by the new Omicron variant.
Households rushed back out to shops and restaurants in October as pandemic lockdowns came to an end and are expected to keep opening their wallets over the Christmas season.
The economic cost of lockdowns is clear,with figures showing a key measure of living standards has fallen in Victoria for two consecutive years.
They may be the smallest economies,but for the first time South Australia and Tasmania have out-shone the bigger states to lead them out of the pandemic recession.
The RBA has spent a year throwing everything at supporting the economy. But it has now let a key interest rate rise,paving the way for an end to QE.
The chances of a rate hike following next year’s federal election are growing after a surprise spike in inflation from record high petrol prices and surging home building costs.
Investors are betting the Reserve Bank will blink on its interest rate plan and an inflation report this week could prove pivotal to that bet.
The integration of the global supply chain has served the world well for years. However,it’s now under pressure just as the economy recovers.
The Reserve Bank has recorded a $4.3 billion accounting loss and admits higher interest rates could further hit its bottom line.
New analysis of tax data shows NSW businesses with higher turnovers pocked almost $5 billion worth of JobKeeper payments.
Business groups are concerned skills shortages across the country will weigh on economic growth,but others say too many low-paid temporary migrants could limit wage growth.