The International Monetary Fund (IMF) has highlighted the damaging effect the iron ore slump is having on Australia, as the Treasurer seeks a discussion with the Chinese finance minister on the matter. In its latest world outlook, the IMF forecasts Australia’s economy will grow by 2.8 per cent this year, which is slightly down on …
A measure of Australian consumer sentiment fell in April as people fretted about the economic outlook even as they felt better about splashing out on big-ticket household items. Wednesday’s survey of 1,200 people by the Melbourne Institute and Westpac Bank showed its index of consumer sentiment slipped a seasonally adjusted 3.2 percent in April, from …
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 …
