
New life planned for Kurt's Coffee House: 'friendly, casual, signature dishes'
THERE are some exciting things happening in Devonshire Street with plans to breathe new life into the former Kurt's Coffee House.
Mortgage broker Darby Franklin and operations manager Kris Saunders bought the property after it was passed in at auction last year.
"I first noticed it on the internet and then I walked past it," Mr Saunders said. "It looked like a cool building, it has nice character about it."
Despite the derelict appearance of the two-level property at 3 Devonshire Street, the pair discovered the building was, for the most part, structurally sound.
"We want to keep it pretty much the same out the front, and we want to keep the aesthetic of the building," he said.
While the opening might be 12 to 18 months away, the pair have already locked in Matt McFarlane for the project, who formerly ran the popular Carrington haunt Franky's Dumplings & Noodles.
The beloved Chinese restaurant closed in March 2024. At the time, owner Mr McFarlane said he'd "run out of puff" after operating the business with his late business partner, Hua "Franky" Fan, since 2018.
But it seems this new project in the heart of Newcastle has caught his attention.
"It is definitely going to be Franky's style, but it is going to be something new," he told Newcastle Herald.
"Friendly, casual, signature dishes with a small menu and live music. We will have to have a picture of Franky on the wall somewhere."
Mr Franklin was a regular at the dumpling house and approached Mr McFarlane with a business proposition.
"I was flattered," Mr McFarlane said. "It is going to be so much work, but I think it is great. I love what Bernie's are doing and I think it will be great to be part of that community."
The building dates back to the early 1900s and operated as Kurt's Coffee Lounge from the 1970s to the 1990s. The first owner, Kurt Piccardi, was a well-known businessman and after whom the cafe was named.
The plans for the new restaurant and small bar have been lodged with Newcastle council. They include a dining space downstairs for 20 patrons, a bar, toilets and commercial kitchen. Upstairs will be an open-plan dining area for 48 patrons within the building and a rebuilt balcony with insulated roof sheeting and louvre roof.
When looking at a bird's-eye view of the building it is easy to see why the balcony needs to be rebuilt.
"I love old buildings," he said.
"It is a shell of a building, and we don't want to change it too much, but I really want to use the deck out the back."
The property is zoned for mixed-use, and the team hopes the plans for a smaller venue will get the green light from the council.
Most people already use apps to share rides, get food deliveries and organise their dating lives, but a service that matches people and businesses with places has recently cracked the Hunter market.
Vennu is a platform that lists community assets and matches them with people seeking spaces for all kinds of activities and events. For example, the platform has partnered with Marine Rescue NSW, and one of the newest listings is the Marine Rescue Newcastle meeting rooms, which can be hired by other businesses that require a conference space.
It is not just business suites and formal events either, Vennu has a collaboration with Screen NSW and hires out spaces and locations for filming.
Glenworth Valley's 3000-acre wilderness Epworth House on the Central Coast is one of the sites listed for hire for film and television
The platform is open to people who need venues for workshops, events, meetings, or creative projects.
University of Newcastle Emeritus Professor Rick Middleton is now a Fellow of the Australian Academy of Science.
He is internationally renowned for his contributions to electrical engineering, having pioneered work on fundamental limitations in control system design and practical aspects of process control, telecommunications, power electronics and systems biology.
Professor Middleton described the appointment as "a great honour" and thanked colleagues and students for creating the "amazing and rich intellectual environment that nurtured and supported my work".
President of the Academy, Professor Chennupati Jagadish AC, said the new Fellows of 2025 represented the exceptional breadth and depth of Australian scientific excellence.
"Each Fellow has made remarkable contributions in their field, demonstrating the vital role that science plays in addressing our most pressing challenges and expanding human knowledge," he said.
With the election of the 26 new Fellows in 2025, the Australian Academy of Science Fellowship now stands at 638.
Design lovers and treasure seekers have a new reason to visit the Hunter Valley.
It's called The Trove, and it's a homewares and art collective housed at Leaves & Fishes in Lovedale.
Blending global aesthetics with local character, The Trove is an ever-evolving collection of homewares, furniture, living plants and original artworks - each piece handpicked for its craftsmanship, story, and ability to transform a space.
"We wanted to create a space that celebrates individuality and promotes sustainability," Kristy McGuigan said. She bought Leaves & Fishes with her husband, Aaron, in early 2023.
"Every piece has been selected to reflect a sense of discovery and a global perspective, while staying true to the relaxed, earthy essence of Leaves & Fishes and the Hunter Valley."
Hunter Valley artist Rebecca Rath's large-scale oil paintings have featured in The Trove's first exhibition, Of Land and Light, including pieces from her My Pokolbin, Hawkesbury and Wollemi series.
"These paintings represent pivotal moments in my artistic journey," Ms Rath said.
"Bringing them into a space designed for beautiful living feels like the perfect way to share their story."
Ms Rath began her artistic journey at Hornsby TAFE in 1992 before completing a Bachelor of Fine Arts (Honours) at UNSW.
Her chosen medium is en plein air painting and drawing.
"After moving from Sydney to the Hunter Valley over 20 years ago, my work naturally shifted toward painting landscapes," she said.
"My practice is grounded in the act of finding, both literally and metaphorically.
"I seek out landscapes that evoke stillness, tension, or transition - places where light shifts, seasons change, and the land sits on the edge of development.
"These spaces offer both visual inspiration and moments of personal reflection."
Her work has been exhibited both nationally and internationally, and her solo exhibition, Found, opens at Maitland Regional Art Gallery on June 7.
THERE are some exciting things happening in Devonshire Street with plans to breathe new life into the former Kurt's Coffee House.
Mortgage broker Darby Franklin and operations manager Kris Saunders bought the property after it was passed in at auction last year.
"I first noticed it on the internet and then I walked past it," Mr Saunders said. "It looked like a cool building, it has nice character about it."
Despite the derelict appearance of the two-level property at 3 Devonshire Street, the pair discovered the building was, for the most part, structurally sound.
"We want to keep it pretty much the same out the front, and we want to keep the aesthetic of the building," he said.
While the opening might be 12 to 18 months away, the pair have already locked in Matt McFarlane for the project, who formerly ran the popular Carrington haunt Franky's Dumplings & Noodles.
The beloved Chinese restaurant closed in March 2024. At the time, owner Mr McFarlane said he'd "run out of puff" after operating the business with his late business partner, Hua "Franky" Fan, since 2018.
But it seems this new project in the heart of Newcastle has caught his attention.
"It is definitely going to be Franky's style, but it is going to be something new," he told Newcastle Herald.
"Friendly, casual, signature dishes with a small menu and live music. We will have to have a picture of Franky on the wall somewhere."
Mr Franklin was a regular at the dumpling house and approached Mr McFarlane with a business proposition.
"I was flattered," Mr McFarlane said. "It is going to be so much work, but I think it is great. I love what Bernie's are doing and I think it will be great to be part of that community."
The building dates back to the early 1900s and operated as Kurt's Coffee Lounge from the 1970s to the 1990s. The first owner, Kurt Piccardi, was a well-known businessman and after whom the cafe was named.
The plans for the new restaurant and small bar have been lodged with Newcastle council. They include a dining space downstairs for 20 patrons, a bar, toilets and commercial kitchen. Upstairs will be an open-plan dining area for 48 patrons within the building and a rebuilt balcony with insulated roof sheeting and louvre roof.
When looking at a bird's-eye view of the building it is easy to see why the balcony needs to be rebuilt.
"I love old buildings," he said.
"It is a shell of a building, and we don't want to change it too much, but I really want to use the deck out the back."
The property is zoned for mixed-use, and the team hopes the plans for a smaller venue will get the green light from the council.
Most people already use apps to share rides, get food deliveries and organise their dating lives, but a service that matches people and businesses with places has recently cracked the Hunter market.
Vennu is a platform that lists community assets and matches them with people seeking spaces for all kinds of activities and events. For example, the platform has partnered with Marine Rescue NSW, and one of the newest listings is the Marine Rescue Newcastle meeting rooms, which can be hired by other businesses that require a conference space.
It is not just business suites and formal events either, Vennu has a collaboration with Screen NSW and hires out spaces and locations for filming.
Glenworth Valley's 3000-acre wilderness Epworth House on the Central Coast is one of the sites listed for hire for film and television
The platform is open to people who need venues for workshops, events, meetings, or creative projects.
University of Newcastle Emeritus Professor Rick Middleton is now a Fellow of the Australian Academy of Science.
He is internationally renowned for his contributions to electrical engineering, having pioneered work on fundamental limitations in control system design and practical aspects of process control, telecommunications, power electronics and systems biology.
Professor Middleton described the appointment as "a great honour" and thanked colleagues and students for creating the "amazing and rich intellectual environment that nurtured and supported my work".
President of the Academy, Professor Chennupati Jagadish AC, said the new Fellows of 2025 represented the exceptional breadth and depth of Australian scientific excellence.
"Each Fellow has made remarkable contributions in their field, demonstrating the vital role that science plays in addressing our most pressing challenges and expanding human knowledge," he said.
With the election of the 26 new Fellows in 2025, the Australian Academy of Science Fellowship now stands at 638.
Design lovers and treasure seekers have a new reason to visit the Hunter Valley.
It's called The Trove, and it's a homewares and art collective housed at Leaves & Fishes in Lovedale.
Blending global aesthetics with local character, The Trove is an ever-evolving collection of homewares, furniture, living plants and original artworks - each piece handpicked for its craftsmanship, story, and ability to transform a space.
"We wanted to create a space that celebrates individuality and promotes sustainability," Kristy McGuigan said. She bought Leaves & Fishes with her husband, Aaron, in early 2023.
"Every piece has been selected to reflect a sense of discovery and a global perspective, while staying true to the relaxed, earthy essence of Leaves & Fishes and the Hunter Valley."
Hunter Valley artist Rebecca Rath's large-scale oil paintings have featured in The Trove's first exhibition, Of Land and Light, including pieces from her My Pokolbin, Hawkesbury and Wollemi series.
"These paintings represent pivotal moments in my artistic journey," Ms Rath said.
"Bringing them into a space designed for beautiful living feels like the perfect way to share their story."
Ms Rath began her artistic journey at Hornsby TAFE in 1992 before completing a Bachelor of Fine Arts (Honours) at UNSW.
Her chosen medium is en plein air painting and drawing.
"After moving from Sydney to the Hunter Valley over 20 years ago, my work naturally shifted toward painting landscapes," she said.
"My practice is grounded in the act of finding, both literally and metaphorically.
"I seek out landscapes that evoke stillness, tension, or transition - places where light shifts, seasons change, and the land sits on the edge of development.
"These spaces offer both visual inspiration and moments of personal reflection."
Her work has been exhibited both nationally and internationally, and her solo exhibition, Found, opens at Maitland Regional Art Gallery on June 7.
THERE are some exciting things happening in Devonshire Street with plans to breathe new life into the former Kurt's Coffee House.
Mortgage broker Darby Franklin and operations manager Kris Saunders bought the property after it was passed in at auction last year.
"I first noticed it on the internet and then I walked past it," Mr Saunders said. "It looked like a cool building, it has nice character about it."
Despite the derelict appearance of the two-level property at 3 Devonshire Street, the pair discovered the building was, for the most part, structurally sound.
"We want to keep it pretty much the same out the front, and we want to keep the aesthetic of the building," he said.
While the opening might be 12 to 18 months away, the pair have already locked in Matt McFarlane for the project, who formerly ran the popular Carrington haunt Franky's Dumplings & Noodles.
The beloved Chinese restaurant closed in March 2024. At the time, owner Mr McFarlane said he'd "run out of puff" after operating the business with his late business partner, Hua "Franky" Fan, since 2018.
But it seems this new project in the heart of Newcastle has caught his attention.
"It is definitely going to be Franky's style, but it is going to be something new," he told Newcastle Herald.
"Friendly, casual, signature dishes with a small menu and live music. We will have to have a picture of Franky on the wall somewhere."
Mr Franklin was a regular at the dumpling house and approached Mr McFarlane with a business proposition.
"I was flattered," Mr McFarlane said. "It is going to be so much work, but I think it is great. I love what Bernie's are doing and I think it will be great to be part of that community."
The building dates back to the early 1900s and operated as Kurt's Coffee Lounge from the 1970s to the 1990s. The first owner, Kurt Piccardi, was a well-known businessman and after whom the cafe was named.
The plans for the new restaurant and small bar have been lodged with Newcastle council. They include a dining space downstairs for 20 patrons, a bar, toilets and commercial kitchen. Upstairs will be an open-plan dining area for 48 patrons within the building and a rebuilt balcony with insulated roof sheeting and louvre roof.
When looking at a bird's-eye view of the building it is easy to see why the balcony needs to be rebuilt.
"I love old buildings," he said.
"It is a shell of a building, and we don't want to change it too much, but I really want to use the deck out the back."
The property is zoned for mixed-use, and the team hopes the plans for a smaller venue will get the green light from the council.
Most people already use apps to share rides, get food deliveries and organise their dating lives, but a service that matches people and businesses with places has recently cracked the Hunter market.
Vennu is a platform that lists community assets and matches them with people seeking spaces for all kinds of activities and events. For example, the platform has partnered with Marine Rescue NSW, and one of the newest listings is the Marine Rescue Newcastle meeting rooms, which can be hired by other businesses that require a conference space.
It is not just business suites and formal events either, Vennu has a collaboration with Screen NSW and hires out spaces and locations for filming.
Glenworth Valley's 3000-acre wilderness Epworth House on the Central Coast is one of the sites listed for hire for film and television
The platform is open to people who need venues for workshops, events, meetings, or creative projects.
University of Newcastle Emeritus Professor Rick Middleton is now a Fellow of the Australian Academy of Science.
He is internationally renowned for his contributions to electrical engineering, having pioneered work on fundamental limitations in control system design and practical aspects of process control, telecommunications, power electronics and systems biology.
Professor Middleton described the appointment as "a great honour" and thanked colleagues and students for creating the "amazing and rich intellectual environment that nurtured and supported my work".
President of the Academy, Professor Chennupati Jagadish AC, said the new Fellows of 2025 represented the exceptional breadth and depth of Australian scientific excellence.
"Each Fellow has made remarkable contributions in their field, demonstrating the vital role that science plays in addressing our most pressing challenges and expanding human knowledge," he said.
With the election of the 26 new Fellows in 2025, the Australian Academy of Science Fellowship now stands at 638.
Design lovers and treasure seekers have a new reason to visit the Hunter Valley.
It's called The Trove, and it's a homewares and art collective housed at Leaves & Fishes in Lovedale.
Blending global aesthetics with local character, The Trove is an ever-evolving collection of homewares, furniture, living plants and original artworks - each piece handpicked for its craftsmanship, story, and ability to transform a space.
"We wanted to create a space that celebrates individuality and promotes sustainability," Kristy McGuigan said. She bought Leaves & Fishes with her husband, Aaron, in early 2023.
"Every piece has been selected to reflect a sense of discovery and a global perspective, while staying true to the relaxed, earthy essence of Leaves & Fishes and the Hunter Valley."
Hunter Valley artist Rebecca Rath's large-scale oil paintings have featured in The Trove's first exhibition, Of Land and Light, including pieces from her My Pokolbin, Hawkesbury and Wollemi series.
"These paintings represent pivotal moments in my artistic journey," Ms Rath said.
"Bringing them into a space designed for beautiful living feels like the perfect way to share their story."
Ms Rath began her artistic journey at Hornsby TAFE in 1992 before completing a Bachelor of Fine Arts (Honours) at UNSW.
Her chosen medium is en plein air painting and drawing.
"After moving from Sydney to the Hunter Valley over 20 years ago, my work naturally shifted toward painting landscapes," she said.
"My practice is grounded in the act of finding, both literally and metaphorically.
"I seek out landscapes that evoke stillness, tension, or transition - places where light shifts, seasons change, and the land sits on the edge of development.
"These spaces offer both visual inspiration and moments of personal reflection."
Her work has been exhibited both nationally and internationally, and her solo exhibition, Found, opens at Maitland Regional Art Gallery on June 7.
THERE are some exciting things happening in Devonshire Street with plans to breathe new life into the former Kurt's Coffee House.
Mortgage broker Darby Franklin and operations manager Kris Saunders bought the property after it was passed in at auction last year.
"I first noticed it on the internet and then I walked past it," Mr Saunders said. "It looked like a cool building, it has nice character about it."
Despite the derelict appearance of the two-level property at 3 Devonshire Street, the pair discovered the building was, for the most part, structurally sound.
"We want to keep it pretty much the same out the front, and we want to keep the aesthetic of the building," he said.
While the opening might be 12 to 18 months away, the pair have already locked in Matt McFarlane for the project, who formerly ran the popular Carrington haunt Franky's Dumplings & Noodles.
The beloved Chinese restaurant closed in March 2024. At the time, owner Mr McFarlane said he'd "run out of puff" after operating the business with his late business partner, Hua "Franky" Fan, since 2018.
But it seems this new project in the heart of Newcastle has caught his attention.
"It is definitely going to be Franky's style, but it is going to be something new," he told Newcastle Herald.
"Friendly, casual, signature dishes with a small menu and live music. We will have to have a picture of Franky on the wall somewhere."
Mr Franklin was a regular at the dumpling house and approached Mr McFarlane with a business proposition.
"I was flattered," Mr McFarlane said. "It is going to be so much work, but I think it is great. I love what Bernie's are doing and I think it will be great to be part of that community."
The building dates back to the early 1900s and operated as Kurt's Coffee Lounge from the 1970s to the 1990s. The first owner, Kurt Piccardi, was a well-known businessman and after whom the cafe was named.
The plans for the new restaurant and small bar have been lodged with Newcastle council. They include a dining space downstairs for 20 patrons, a bar, toilets and commercial kitchen. Upstairs will be an open-plan dining area for 48 patrons within the building and a rebuilt balcony with insulated roof sheeting and louvre roof.
When looking at a bird's-eye view of the building it is easy to see why the balcony needs to be rebuilt.
"I love old buildings," he said.
"It is a shell of a building, and we don't want to change it too much, but I really want to use the deck out the back."
The property is zoned for mixed-use, and the team hopes the plans for a smaller venue will get the green light from the council.
Most people already use apps to share rides, get food deliveries and organise their dating lives, but a service that matches people and businesses with places has recently cracked the Hunter market.
Vennu is a platform that lists community assets and matches them with people seeking spaces for all kinds of activities and events. For example, the platform has partnered with Marine Rescue NSW, and one of the newest listings is the Marine Rescue Newcastle meeting rooms, which can be hired by other businesses that require a conference space.
It is not just business suites and formal events either, Vennu has a collaboration with Screen NSW and hires out spaces and locations for filming.
Glenworth Valley's 3000-acre wilderness Epworth House on the Central Coast is one of the sites listed for hire for film and television
The platform is open to people who need venues for workshops, events, meetings, or creative projects.
University of Newcastle Emeritus Professor Rick Middleton is now a Fellow of the Australian Academy of Science.
He is internationally renowned for his contributions to electrical engineering, having pioneered work on fundamental limitations in control system design and practical aspects of process control, telecommunications, power electronics and systems biology.
Professor Middleton described the appointment as "a great honour" and thanked colleagues and students for creating the "amazing and rich intellectual environment that nurtured and supported my work".
President of the Academy, Professor Chennupati Jagadish AC, said the new Fellows of 2025 represented the exceptional breadth and depth of Australian scientific excellence.
"Each Fellow has made remarkable contributions in their field, demonstrating the vital role that science plays in addressing our most pressing challenges and expanding human knowledge," he said.
With the election of the 26 new Fellows in 2025, the Australian Academy of Science Fellowship now stands at 638.
Design lovers and treasure seekers have a new reason to visit the Hunter Valley.
It's called The Trove, and it's a homewares and art collective housed at Leaves & Fishes in Lovedale.
Blending global aesthetics with local character, The Trove is an ever-evolving collection of homewares, furniture, living plants and original artworks - each piece handpicked for its craftsmanship, story, and ability to transform a space.
"We wanted to create a space that celebrates individuality and promotes sustainability," Kristy McGuigan said. She bought Leaves & Fishes with her husband, Aaron, in early 2023.
"Every piece has been selected to reflect a sense of discovery and a global perspective, while staying true to the relaxed, earthy essence of Leaves & Fishes and the Hunter Valley."
Hunter Valley artist Rebecca Rath's large-scale oil paintings have featured in The Trove's first exhibition, Of Land and Light, including pieces from her My Pokolbin, Hawkesbury and Wollemi series.
"These paintings represent pivotal moments in my artistic journey," Ms Rath said.
"Bringing them into a space designed for beautiful living feels like the perfect way to share their story."
Ms Rath began her artistic journey at Hornsby TAFE in 1992 before completing a Bachelor of Fine Arts (Honours) at UNSW.
Her chosen medium is en plein air painting and drawing.
"After moving from Sydney to the Hunter Valley over 20 years ago, my work naturally shifted toward painting landscapes," she said.
"My practice is grounded in the act of finding, both literally and metaphorically.
"I seek out landscapes that evoke stillness, tension, or transition - places where light shifts, seasons change, and the land sits on the edge of development.
"These spaces offer both visual inspiration and moments of personal reflection."
Her work has been exhibited both nationally and internationally, and her solo exhibition, Found, opens at Maitland Regional Art Gallery on June 7.
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US economic growth to slow to 1.6 per cent, OECD says
US economic growth will slow to 1.6 per cent this year from 2.8 per cent last year as President Donald Trump's erratic trade wars disrupt global commerce, leaving businesses and consumers paralysed by uncertainty, the OECD says. The Organisation for Economic Cooperation and Development forecast the US economy - the world's largest - will slow further to just 1.5 per cent in 2026. Trump's policies have raised average US tariff rates from around 2.5 per cent to 15.4 per cent, the highest since 1938, according to the OECD. World economic growth will slow to just 2.9 per cent this year and stay there in 2026, according to the forecast. It marks a substantial deceleration from growth of 3.3 per cent global growth last year and 3.4 per cent in 2023. The world economy has proven remarkably resilient in recent years, continuing to expand steadily in the face of global shocks such as the COVID-19 pandemic and Russia's invasion of Ukraine. But global trade and the economic outlook have been clouded by Trump's sweeping taxes on imports, the unpredictable way he's rolled them out and the threat of retaliation from other countries. Reversing decades of US policy in favour of freer world trade, Trump has levied 10 per cent tariffs on imports from almost every country. He's also threatened more import taxes, including a doubling of his tariffs on steel and aluminium to 50 per cent. Without mentioning Trump by name, OECD chief economist Álvaro Pereira wrote in a commentary to accompany the forecast that "we have seen a significant increase in trade barriers as well as in economic and trade policy uncertainty. This sharp rise in uncertainty has negatively impacted business and consumer confidence and is set to hold back trade and investment." China - the world's second-biggest economy - is forecast to see growth decelerate from five per cent last year to 4.7 per cent in 2025 and 4.3 per cent in 2026. Chinese exporters will be hurt by Trump's tariffs, hobbling an economy already weakened by the collapse of the nation's real estate market. Some of the damage will be offset by help from the government: Beijing last month outlined plans to cut interest rates and encourage bank lending as well as allocating more money for factory upgrades and elder care, among other things. The 20 countries that share the euro currency will collectively see economic growth pick up from 0.8 per cent last year to one per cent in 2025 and 1.2 per cent next year, the OECD said, helped by interest rate cuts from the European Central Bank. The Paris-based OECD, comprising 38 member countries, works to promote international trade and prosperity and issues periodic reports and analyses. US economic growth will slow to 1.6 per cent this year from 2.8 per cent last year as President Donald Trump's erratic trade wars disrupt global commerce, leaving businesses and consumers paralysed by uncertainty, the OECD says. The Organisation for Economic Cooperation and Development forecast the US economy - the world's largest - will slow further to just 1.5 per cent in 2026. Trump's policies have raised average US tariff rates from around 2.5 per cent to 15.4 per cent, the highest since 1938, according to the OECD. World economic growth will slow to just 2.9 per cent this year and stay there in 2026, according to the forecast. It marks a substantial deceleration from growth of 3.3 per cent global growth last year and 3.4 per cent in 2023. The world economy has proven remarkably resilient in recent years, continuing to expand steadily in the face of global shocks such as the COVID-19 pandemic and Russia's invasion of Ukraine. But global trade and the economic outlook have been clouded by Trump's sweeping taxes on imports, the unpredictable way he's rolled them out and the threat of retaliation from other countries. Reversing decades of US policy in favour of freer world trade, Trump has levied 10 per cent tariffs on imports from almost every country. He's also threatened more import taxes, including a doubling of his tariffs on steel and aluminium to 50 per cent. Without mentioning Trump by name, OECD chief economist Álvaro Pereira wrote in a commentary to accompany the forecast that "we have seen a significant increase in trade barriers as well as in economic and trade policy uncertainty. This sharp rise in uncertainty has negatively impacted business and consumer confidence and is set to hold back trade and investment." China - the world's second-biggest economy - is forecast to see growth decelerate from five per cent last year to 4.7 per cent in 2025 and 4.3 per cent in 2026. Chinese exporters will be hurt by Trump's tariffs, hobbling an economy already weakened by the collapse of the nation's real estate market. Some of the damage will be offset by help from the government: Beijing last month outlined plans to cut interest rates and encourage bank lending as well as allocating more money for factory upgrades and elder care, among other things. The 20 countries that share the euro currency will collectively see economic growth pick up from 0.8 per cent last year to one per cent in 2025 and 1.2 per cent next year, the OECD said, helped by interest rate cuts from the European Central Bank. The Paris-based OECD, comprising 38 member countries, works to promote international trade and prosperity and issues periodic reports and analyses. US economic growth will slow to 1.6 per cent this year from 2.8 per cent last year as President Donald Trump's erratic trade wars disrupt global commerce, leaving businesses and consumers paralysed by uncertainty, the OECD says. The Organisation for Economic Cooperation and Development forecast the US economy - the world's largest - will slow further to just 1.5 per cent in 2026. Trump's policies have raised average US tariff rates from around 2.5 per cent to 15.4 per cent, the highest since 1938, according to the OECD. World economic growth will slow to just 2.9 per cent this year and stay there in 2026, according to the forecast. It marks a substantial deceleration from growth of 3.3 per cent global growth last year and 3.4 per cent in 2023. The world economy has proven remarkably resilient in recent years, continuing to expand steadily in the face of global shocks such as the COVID-19 pandemic and Russia's invasion of Ukraine. But global trade and the economic outlook have been clouded by Trump's sweeping taxes on imports, the unpredictable way he's rolled them out and the threat of retaliation from other countries. Reversing decades of US policy in favour of freer world trade, Trump has levied 10 per cent tariffs on imports from almost every country. He's also threatened more import taxes, including a doubling of his tariffs on steel and aluminium to 50 per cent. Without mentioning Trump by name, OECD chief economist Álvaro Pereira wrote in a commentary to accompany the forecast that "we have seen a significant increase in trade barriers as well as in economic and trade policy uncertainty. This sharp rise in uncertainty has negatively impacted business and consumer confidence and is set to hold back trade and investment." China - the world's second-biggest economy - is forecast to see growth decelerate from five per cent last year to 4.7 per cent in 2025 and 4.3 per cent in 2026. Chinese exporters will be hurt by Trump's tariffs, hobbling an economy already weakened by the collapse of the nation's real estate market. Some of the damage will be offset by help from the government: Beijing last month outlined plans to cut interest rates and encourage bank lending as well as allocating more money for factory upgrades and elder care, among other things. The 20 countries that share the euro currency will collectively see economic growth pick up from 0.8 per cent last year to one per cent in 2025 and 1.2 per cent next year, the OECD said, helped by interest rate cuts from the European Central Bank. The Paris-based OECD, comprising 38 member countries, works to promote international trade and prosperity and issues periodic reports and analyses. US economic growth will slow to 1.6 per cent this year from 2.8 per cent last year as President Donald Trump's erratic trade wars disrupt global commerce, leaving businesses and consumers paralysed by uncertainty, the OECD says. The Organisation for Economic Cooperation and Development forecast the US economy - the world's largest - will slow further to just 1.5 per cent in 2026. Trump's policies have raised average US tariff rates from around 2.5 per cent to 15.4 per cent, the highest since 1938, according to the OECD. World economic growth will slow to just 2.9 per cent this year and stay there in 2026, according to the forecast. It marks a substantial deceleration from growth of 3.3 per cent global growth last year and 3.4 per cent in 2023. The world economy has proven remarkably resilient in recent years, continuing to expand steadily in the face of global shocks such as the COVID-19 pandemic and Russia's invasion of Ukraine. But global trade and the economic outlook have been clouded by Trump's sweeping taxes on imports, the unpredictable way he's rolled them out and the threat of retaliation from other countries. Reversing decades of US policy in favour of freer world trade, Trump has levied 10 per cent tariffs on imports from almost every country. He's also threatened more import taxes, including a doubling of his tariffs on steel and aluminium to 50 per cent. Without mentioning Trump by name, OECD chief economist Álvaro Pereira wrote in a commentary to accompany the forecast that "we have seen a significant increase in trade barriers as well as in economic and trade policy uncertainty. This sharp rise in uncertainty has negatively impacted business and consumer confidence and is set to hold back trade and investment." China - the world's second-biggest economy - is forecast to see growth decelerate from five per cent last year to 4.7 per cent in 2025 and 4.3 per cent in 2026. Chinese exporters will be hurt by Trump's tariffs, hobbling an economy already weakened by the collapse of the nation's real estate market. Some of the damage will be offset by help from the government: Beijing last month outlined plans to cut interest rates and encourage bank lending as well as allocating more money for factory upgrades and elder care, among other things. The 20 countries that share the euro currency will collectively see economic growth pick up from 0.8 per cent last year to one per cent in 2025 and 1.2 per cent next year, the OECD said, helped by interest rate cuts from the European Central Bank. The Paris-based OECD, comprising 38 member countries, works to promote international trade and prosperity and issues periodic reports and analyses.


Perth Now
3 hours ago
- Perth Now
US economic growth to slow to 1.6 per cent, OECD says
US economic growth will slow to 1.6 per cent this year from 2.8 per cent last year as President Donald Trump's erratic trade wars disrupt global commerce, leaving businesses and consumers paralysed by uncertainty, the OECD says. The Organisation for Economic Cooperation and Development forecast the US economy - the world's largest - will slow further to just 1.5 per cent in 2026. Trump's policies have raised average US tariff rates from around 2.5 per cent to 15.4 per cent, the highest since 1938, according to the OECD. World economic growth will slow to just 2.9 per cent this year and stay there in 2026, according to the forecast. It marks a substantial deceleration from growth of 3.3 per cent global growth last year and 3.4 per cent in 2023. The world economy has proven remarkably resilient in recent years, continuing to expand steadily in the face of global shocks such as the COVID-19 pandemic and Russia's invasion of Ukraine. But global trade and the economic outlook have been clouded by Trump's sweeping taxes on imports, the unpredictable way he's rolled them out and the threat of retaliation from other countries. Reversing decades of US policy in favour of freer world trade, Trump has levied 10 per cent tariffs on imports from almost every country. He's also threatened more import taxes, including a doubling of his tariffs on steel and aluminium to 50 per cent. Without mentioning Trump by name, OECD chief economist Álvaro Pereira wrote in a commentary to accompany the forecast that "we have seen a significant increase in trade barriers as well as in economic and trade policy uncertainty. This sharp rise in uncertainty has negatively impacted business and consumer confidence and is set to hold back trade and investment." China - the world's second-biggest economy - is forecast to see growth decelerate from five per cent last year to 4.7 per cent in 2025 and 4.3 per cent in 2026. Chinese exporters will be hurt by Trump's tariffs, hobbling an economy already weakened by the collapse of the nation's real estate market. Some of the damage will be offset by help from the government: Beijing last month outlined plans to cut interest rates and encourage bank lending as well as allocating more money for factory upgrades and elder care, among other things. The 20 countries that share the euro currency will collectively see economic growth pick up from 0.8 per cent last year to one per cent in 2025 and 1.2 per cent next year, the OECD said, helped by interest rate cuts from the European Central Bank. The Paris-based OECD, comprising 38 member countries, works to promote international trade and prosperity and issues periodic reports and analyses.


West Australian
3 hours ago
- West Australian
US economic growth to slow to 1.6 per cent, OECD says
US economic growth will slow to 1.6 per cent this year from 2.8 per cent last year as President Donald Trump's erratic trade wars disrupt global commerce, leaving businesses and consumers paralysed by uncertainty, the OECD says. The Organisation for Economic Cooperation and Development forecast the US economy - the world's largest - will slow further to just 1.5 per cent in 2026. Trump's policies have raised average US tariff rates from around 2.5 per cent to 15.4 per cent, the highest since 1938, according to the OECD. World economic growth will slow to just 2.9 per cent this year and stay there in 2026, according to the forecast. It marks a substantial deceleration from growth of 3.3 per cent global growth last year and 3.4 per cent in 2023. The world economy has proven remarkably resilient in recent years, continuing to expand steadily in the face of global shocks such as the COVID-19 pandemic and Russia's invasion of Ukraine. But global trade and the economic outlook have been clouded by Trump's sweeping taxes on imports, the unpredictable way he's rolled them out and the threat of retaliation from other countries. Reversing decades of US policy in favour of freer world trade, Trump has levied 10 per cent tariffs on imports from almost every country. He's also threatened more import taxes, including a doubling of his tariffs on steel and aluminium to 50 per cent. Without mentioning Trump by name, OECD chief economist Álvaro Pereira wrote in a commentary to accompany the forecast that "we have seen a significant increase in trade barriers as well as in economic and trade policy uncertainty. This sharp rise in uncertainty has negatively impacted business and consumer confidence and is set to hold back trade and investment." China - the world's second-biggest economy - is forecast to see growth decelerate from five per cent last year to 4.7 per cent in 2025 and 4.3 per cent in 2026. Chinese exporters will be hurt by Trump's tariffs, hobbling an economy already weakened by the collapse of the nation's real estate market. Some of the damage will be offset by help from the government: Beijing last month outlined plans to cut interest rates and encourage bank lending as well as allocating more money for factory upgrades and elder care, among other things. The 20 countries that share the euro currency will collectively see economic growth pick up from 0.8 per cent last year to one per cent in 2025 and 1.2 per cent next year, the OECD said, helped by interest rate cuts from the European Central Bank. The Paris-based OECD, comprising 38 member countries, works to promote international trade and prosperity and issues periodic reports and analyses.