• Wage growth remains close to inflation
    AAP10 hours ago

    Wage growth remains close to inflation

    The latest six-monthly average weekly earnings figures released by the Australian Bureau of Statistics tends to be more volatile than the wage price index, which was released on Wednesday and is the Reserve Bank's preferred measure of wages growth for gauging interest rate policy. Top earners in

  • Little household relief from wage growth
    AAP22 hours ago

    Little household relief from wage growth

    While figures on Wednesday showed annual wages growth picked up to an 18-month high of 2.1 per cent in the December quarter, it still remains only slightly ahead of the rate of inflation. Jeffery Sheen, a professor from Macquarie University's department of economics, says this means the purchasing

  • Wages growth barely ahead of inflation
    AAPyesterday

    Wages growth barely ahead of inflation

    Wages growth was stronger than expected in the final three months of 2017, but annual growth of 2.1 per cent is only slightly ahead of inflation. The wage price index - the Reserve Bank of Australia's preferred measure of wages growth - rose by 0.6 per cent in the December quarter, beating economists

  • AAP2 days ago

    Wage growth stronger than expected

    Wage growth exceeded market expectations in the final three months of 2017, but annual growth of 2.1 per cent was only slightly better than inflation. The December quarter wage price index - the Reserve Bank of Australia's preferred measure of wages growth - was 0.6 per cent, beating economists&

  • AAP2 days ago

    IMF to give economic view of Australia

    The Turnbull government will be hoping for an upbeat annual assessment of Australia from the International Monetary Fund to refocus attention on the economy, rather than the controversy surrounding Barnaby Joyce. The IMF will release its final report on Australia for 2017 on Wednesday. Any pickup in

  • AAP2 days ago

    Wages yet to get a lift from strong jobs

    The December quarter wage price index - the Reserve Bank's preferred measure of wages growth - is released on Wednesday. It would be broadly in line with the rate of inflation, suggesting wage increases are not resulting in extra household disposable income. The Reserve Bank, in the minutes of

  • AAP2 days ago

    Confidence stumbles as Joyce saga rolls on

    Confidence among Australians has stumbled for a second week in a row as concerns over recent volatility in financial markets turned to potential turmoil within the ranks of the Turnbull government. Despite last week's strong employment figures, the result of the weekly ANZ-Roy Morgan consumer confidence

  • Tough retail times to continue, warns RBA
    AAP2 days ago

    Tough retail times to continue, warns RBA

    More people are finding jobs and business conditions are healthy but retailers will endure tough times for a few more years yet, the central bank warns. The minutes of the Reserve Bank of Australia board's February meeting, at which the cash rate was again left at a record low of 1.5 per cent, show

  • Tough retail times will persist, warns RBA
    AAP3 days ago

    Tough retail times will persist, warns RBA

    More people are finding jobs and business conditions are positive but retailers will experience tough times for a few more years yet, the central bank has warned. The minutes of the Reserve Bank of Australia board's February meeting, at which the cash rate was again left at a record low of 1.5 per

  • AAP3 days ago

    Retail gloom to persist, warns RBA

    More people are finding jobs and business conditions are improving but retailers can expect a few more years of tough times, the Reserve Bank has warned. Australia's central bank says strong competition ...

  • AAP3 days ago

    Joyce saga sours confidence, index shows

    The Barnaby Joyce saga appears to have soured confidence amongst Australians given the rift his affair has caused within the Turnbull coalition government. The weekly ANZ-Roy Morgan consumer confidence index dropped 3.5 per cent, building on the 2.6 per cent decline of the previous week that followed

  • AAP3 days ago

    Sydney home prices to reverse in 2018: CBA

    Australia's largest bank expects house prices in Sydney and Darwin to fall by three per cent this year, but for values to rise slightly in Melbourne and other capital cities. Commonwealth Bank senior economist ...

  • AAP3 days ago

    Confidence may feel political heat

    Voters have expressed their views on the Barnaby Joyce saga, with a majority saying he should step down as deputy prime minister while marking down the Turnbull government's chances of winning the next election in the latest opinion polls. The weekly ANZ-Roy Morgan consumer confidence index is released

  • Turnbull wants faster wages growth
    AAP3 days ago

    Turnbull wants faster wages growth

    Prime Minister Malcolm Turnbull wants to see wages growing faster and believes they should do as long as strong economic and jobs growth are maintained. "I think the prospects are good," Mr Turnbull told Melbourne's 3AW radio when asked about the outlook for wages. "You are seeing

  • Auctions gain pace as property prices slow
    AAP3 days ago

    Auctions gain pace as property prices slow

    Auction clearance rates have continued to improve but home values across Australia's five major capital cities have fallen. Nearly 2,000 homes went under the hammer in the week to February 16 with 69.1 ...

  • Auction activity lifts, home values fall
    AAP4 days ago

    Auction activity lifts, home values fall

    Auction clearance rates have continued to improve but home values across Australia's five major capital cities have fallen. Nearly 2,000 homes went under the hammer in the week to February 16 with 69.1 ...

  • Wage growth prospects good: Turnbull
    AAP4 days ago

    Wage growth prospects good: Turnbull

    Prime Minister Malcolm Turnbull believes the outlook for wages growth is good as long as strong economic and jobs growth are maintained. "I think the prospects are good," Mr Turnbull told Melbourne's 3AW radio when asked about the outlook for wages. "You are seeing stronger economic

  • Wage data to show why households struggle
    AAP4 days ago

    Wage data to show why households struggle

    New wages figures this week are expected to show why some households are struggling to make ends meet. Wednesday's December quarter wage price index - the Reserve Bank's preferred measure of wages growth - is expected to be yet another sombre affair. Economists expect wages grew at a modest

  • Tax cuts must not blow out budget: RBA
    AAP6 days ago

    Tax cuts must not blow out budget: RBA

    The head of the Reserve Bank has warned the federal government against cutting company taxes in Australia if it means taking on more debt. Philip Lowe on Friday said Donald Trump's move to reduce America's corporate tax rate was "very problematic" because of its ongoing impact on the

  • AAP7 days ago

    House price slowdown 'a good outcome': RBA

    Reserve Bank boss Philip Lowe says a sustained cooling in major housing markets would be a welcome development now that overheated property prices have started to ease. House prices are no longer rising in Sydney and the Melbourne market has cooled thanks to clampdowns on investor lending, lower foreign

  • Run of jobs growth extends into new year
    AAP7 days ago

    Run of jobs growth extends into new year

    A surge in part-time positions has eclipsed a fall in full-time roles and given Australia a record 16 consecutive months of jobs growth, and an unemployment rate of 5.5 per cent. CommSec chief economist Craig James said the long run of monthly job growth eclipses the previous record run achieved in

  • Upbeat business points to more jobs gains
    AAP9 days ago

    Upbeat business points to more jobs gains

    The fallout in global shares last week has taken the wind out of the confidence among Australians as they saw their investment and superannuation wealth take a hit, a least on paper. The National Australia Bank's monthly business survey, released on Tuesday, indicates a solid rate of job creation

  • AAP9 days ago

    Consumers unnerved by global volatility

    Extreme volatility in global financial markets has put a dent in confidence, despite the economy's strongest job gains on record. The weekly ANZ-Roy Morgan consumer confidence gauge dropped 2.9 per cent with the sub-index on sentiment towards current economic conditions tumbling six per cent from

  • AAP10 days ago

    Plunge in US stocks sends confidence down

    The plunge in US stocks which infected Australian shares last week has dragged consumer confidence down, with all sub-indices posting declines. The latest ANZ-Roy Morgan Consumer Confidence Index shows a 2.6 per cent drop to 119.5 points in the week to February 11, retracing the gains over the pervious

  • Aust shares end lower but US futures up
    AAP10 days ago

    Aust shares end lower but US futures up

    The Australian share market has closed lower but did claw back some earlier losses as the Dow Jones futures index pointed to a possible positive session on US markets tonight. The benchmark S&P/ASX200 ...