Australia’s Treasurer Joe Hockey plans to discuss iron ore demand with his Chinese counterpart after rising output from BHP Billiton Ltd. and Rio Tinto Group helped drive the metal’s price below $50 a metric ton this month. Australia, the world’s biggest supplier, is contemplating a price as low as $35 in next month’s budget, while …
Consumer confidence has fallen ahead of the May federal budget, as drops in commodity prices sparks worries about the economy. The Westpac/Melbourne Institute index showed consumer sentiment fell by 3.2 per cent in April to 96.2 points, staying below 100 points and indicating there are more pessimists about the economy than optimists. Westpac chief economist …
Sydney’s soaring property prices are not expected to slow any time soon, possibly putting the brakes on further rate cuts from the Reserve Bank. Prices in Sydney have grown at the equivalent of an annual pace of 25 per cent since the RBA’s February rate cut, property valuation firm Propell says in its latest housing …
Australian businesses reported a marked improvement in conditions in March as a pick-up in sales and profitability gave firms the confidence to pump up plans for capital investment, a survey showed on Tuesday. National Australia Bank’s monthly survey of more than 400 firms showed its index of business conditions rose four points to +6 in …
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