• Sydney pulls national house prices lower
    AAP4 hours ago

    Sydney pulls national house prices lower

    Capital city house prices fell in the three months to September, driven by the sharpest fall in prices in Sydney in two years. Average home prices across all eight capitals fell 0.2 per cent in the September quarter, the first decline since the March quarter of 2016, according to the Australian Bureau

  • Household restraint taints upbeat outlook
    AAP6 hours ago

    Household restraint taints upbeat outlook

    "This reflects several headwinds that consumers face, particularly high household debt and persistently weak wage growth," ANZ head of Australian economic David Plank said. "It will put money in people's pockets, encouraging consumer spending," Mr Pearson told reporters in Canberra

  • AAP10 hours ago

    Confidence slips, reversing previous gains

    Consumer confidence has slipped in the past week as sentiment towards current and future financial conditions deteriorated. The latest ANZ-Roy Morgan Consumer Confidence Index shows a 0.6 per cent decline ...

  • AAP12 hours ago

    Aust shares look set to open in the green

    The Australian share market looks set to open modestly higher after gains on virtually all major global indexes including Wall Street ahead of the Federal Reserve's two-day policy meeting. At 0700 AEDT ...

  • AAP16 hours ago

    Retailers hope consumers more upbeat

    Retailers more than most will be keeping a watchful eye on consumer confidence readings this week in the hope of a strong Christmas shopping season. The weekly ANZ-Roy Morgan consumer confidence index is released on Tuesday, a pointer to future spending habits. The monthly Westpac-Melbourne Institute

  • Home auctions bounce back from 2-year low
    AAPyesterday

    Home auctions bounce back from 2-year low

    The number of homes going under the hammer across the nation has bounced back from a two-year low, while housing prices have hardly moved. More than 3,350 auctions were held across the combined capital ...

  • AAP2 days ago

    Aust shares expected to start week higher

    Strong leads from international markets are expected to send Australian shares into positive territory when trade resumes on Monday. AMP Capital chief economist Shane Oliver says the benchmark S&P/ASX200 is likely to gain at least 20 points at the open, after better-than-expected jobs figures buoyed

  • AAP4 days ago

    The business week in numbers

    Metcash's shares hit a record high, a drop in mining exports drags on trade numbers and shareholders protest against a telco's executive pay: Here's a few of the numbers that grabbed attention - or should have - in the business world this week. As widely expected, the Reserve Bank of Australia

  • Home loan values beat market expectations
    AAP4 days ago

    Home loan values beat market expectations

    The latest monthly value of home loan approvals have surpassed market expectations with surprising strength in investor lending. Housing finance approvals were worth a total of $32.5 billion in October up 0.6 per cent, seasonally adjusted, on September. The Australian Bureau of Statistics figures also

  • Banks, energy boost Aust share market
    AAP4 days ago

    Banks, energy boost Aust share market

    The Australian share market is up at noon thanks to strength in banking and energy stocks following a rise in the oil price and the latest stage of global banking reforms. The benchmark S&P/ASX200 stock ...

  • Infrastructure, homes boost construction
    AAP5 days ago

    Infrastructure, homes boost construction

    Growth in engineering construction has hit a fresh high in November, helping to bolster overall construction activity despite a continuing decline in apartment building. The Australian Industry Group and Housing Industry Association Performance of Construction Index (PCI) climbed 4.3 points to 57.5

  • AAP6 days ago

    Consumer slump raises red flag on economy

    Australia's economy has expanded at a slower than expected rate in the three months to September, with the weakest consumer spending in nearly 10 years dragging on growth. The economy grew 0.6 per cent in the September quarter, taking the annual rate of growth to 2.8 per cent. The composition of

  • Economy romps into 27th year of expansion
    AAP6 days ago

    Economy romps into 27th year of expansion

    Australia started its 27th year of unprecedented economic expansion, posting the strongest annual growth rate in 15 months. Treasurer Scott Morrison labelled the September quarter national accounts "another encouraging set of numbers", noting that at 2.8 per cent, the annual growth figure

  • Aust shares remain in negative territory
    AAP6 days ago

    Aust shares remain in negative territory

    Gains by financial and telco stocks have failed to offset the mining and energy sectors' falls with the Australian share market still down at midday. The benchmark S&P/ASX200 stock index was down 11.7 ...

  • Annual economic growth speeds up to 2.8pct
    AAP6 days ago

    Annual economic growth speeds up to 2.8pct

    Australia's economic expansion sped up to an annual growth rate just short of three per cent in the September quarter. Treasurer Scott Morrison labelled the national accounts "another encouraging set of numbers", reinforcing the government's economic strategy of this government that

  • Annual economic growth speeds up to 2.8 pc
    AAP6 days ago

    Annual economic growth speeds up to 2.8 pc

    Australia's economic expansion sped up to an annual growth rate just short of the three per cent mark in the September quarter. This left the annual at 2.8 per cent, up smartly from 1.8 per cent previously as the 0.4 per cent growth contraction recorded in the September quarter 2016 dropped out

  • Economic growth set to accelerate to 3pc
    AAP7 days ago

    Economic growth set to accelerate to 3pc

    Australia's annual growth rate could hit three per cent for the first time in over a year when the national accounts are released on Wednesday. It's a pace more attuned to sustained employment growth. ...

  • RBA holds rates amid spending uncertainty
    AAP7 days ago

    RBA holds rates amid spending uncertainty

    The central bank is worried about Australians' spending habits, as pay packets remain stubbornly stagnant and household debt high. As widely expected, the Reserve Bank of Australia left the official interest rate at 1.5 per cent for a 16th straight month when it met for the last time in 2017 on

  • RBA holds rates amid weak wages growth
    AAP7 days ago

    RBA holds rates amid weak wages growth

    Sluggish wages growth and soft consumer spending remain concerns for the central bank, which has left the cash rate unchanged despite a buoyant jobs market. The Reserve Bank of Australia left the official interest rate at 1.5 per cent for a 16th straight month when it met for the last time in 2017 on

  • Consumers start opening their wallets
    AAP7 days ago

    Consumers start opening their wallets

    Increased consumer confidence and spending should give retailers a warm glow heading into the crucial Christmas shopping season, even if the presence of internet giant Amazon sent a chill down the spine of some. The Reserve Bank wasn't about to upset the apple cart, keeping the cash rate at a record

  • Retail spending growth beats expectations
    AAP7 days ago

    Retail spending growth beats expectations

    Shoppers splurging on shoes, accessories and eating out have driven retail spending growth to a five-month high. All major categories of the retail sector recorded growth in October as total spending hit $26.05 billion, seasonally adjusted, up 0.5 per cent from September. "Growth across the various

  • RBA holds cash rate at 1.5%
    AAP7 days ago

    RBA holds cash rate at 1.5%

    The Reserve Bank has left the cash rate unchanged at 1.5 per cent, with the central bank remaining concerned about sluggish spending and wages growth despite an improving jobs market. Australia's central ...

  • AAP7 days ago

    Retail spending rose 0.5% in October

    Retail spending rose 0.5 per cent in October, beating market expectations of a 0.3 per cent increase. Seasonally adjusted retail spending totalled $26.05 billion in the month, according to the Australian ...

  • AAP7 days ago

    Confidence climbs, reverses previous falls

    Consumer confidence has bounced back and reversed the previous week's fall, but higher electricity and petrol prices are expected to put pressure on Christmas season sales. The latest ANZ-Roy Morgan Consumer Confidence Index shows a 0.7 per cent rise to 115.8 points in the week to December 3, from