Australia’s business community is cheering China’s reversal of zero-COVID,but expects supply chain hiccups,labour shortages and travel headaches to bite.
The political fallout from the British prime minister’s botched economic program rollout has been profound,with collapsing polls leaving politicians angry,fearful and divided.
Tabitha Zeppieri is facing many challenges in her Summer Hill business – and she is certainly not alone.
Queensland businesses are less confident about the next 12 months despite enjoying solid sales and revenue.
Weakening consumer and business confidence are signs that recent official interest-rate rises are working,as the Reserve Bank applies the brakes to an economy it thinks is at risk of overheating.
A leading economist is expecting the nation to recover strongly this year led by a rebound in NSW and the Northern Territory despite Omicron slowing the overall pace of economic growth.
Companies suffered their slowest Christmas season due to the Omicron strain of COVID-19,with data showing business turnover reaching its lowest levels over December.
After record retail spending in November,there are concerns about how it is holding up as many shoppers self-impose restrictions to avoid Omicron.
Tourism businesses want more federal government support as household spending drops to lockdown levels and COVID-19 continues to spread across the country.
Leading economists are confident Australia can continue recovering from the pandemic despite rising case numbers,provided state and territory leaders do not impose further lockdowns.
Business groups want the federal government to step in and provide free rapid antigen tests for workers,saying many companies are unable to afford the additional expense following months of restrictions to limit the spread of COVID-19.