Latest news with #AustralianBureauofStatistics'
Business Recorder
2 days ago
- Business
- Business Recorder
Australia Q2 inflation surprises on low side, heralds rate cut
SYDNEY: Australian consumer prices grew at the slowest pace in over four years in the June quarter, data showed on Wednesday, while core inflation hit a fresh three-year low and cemented market wagers for a cut in interest rates next month. The Australian Bureau of Statistics' consumer price index (CPI) rose 0.7% in the June quarter, under forecasts of a 0.8% increase. Annual CPI inflation dipped to 2.1%, from 2.4%, and again below forecasts. Finance ministry projects July inflation at 3.5-4.5% as price pressures ease The key trimmed mean measure of core inflation increased by 0.6% in the quarter, under forecasts of a 0.7% gain. The annual pace slowed to 2.7%, from 2.9%, taking it further into the Reserve Bank of Australia's 2% to 3% target band.
Reuters
2 days ago
- Business
- Reuters
Australia Q2 inflation surprises on low side, heralds rate cut
SYDNEY, July 30 (Reuters) - Australian consumer prices grew at the slowest pace in over four years in the June quarter, data showed on Wednesday, while core inflation hit a fresh three-year low and cemented market wagers for a cut in interest rates next month. The Australian Bureau of Statistics' consumer price index (CPI) rose 0.7% in the June quarter, under forecasts of a 0.8% increase. Annual CPI inflation dipped to 2.1%, from 2.4%, and again below forecasts. The key trimmed mean measure of core inflation increased by 0.6% in the quarter, under forecasts of a 0.7% gain. The annual pace slowed to 2.7%, from 2.9%, taking it further into the Reserve Bank of Australia's 2% to 3% target band.
The Advertiser
13-07-2025
- Business
- The Advertiser
All signs point to jobs market holding firm in new data
Despite expectations unemployment will rise over the course of 2025, forward indicators point to more jobs growth ahead of the Australian Bureau of Statistics' labour force release on Thursday. Economists predict the figures to show the unemployment rate held at a relatively low 4.1 per cent in June, while about 20,000 jobs are tipped to have been added to the economy. NAB's head of Australian economics, Gareth Spence, still expects the jobless rate to rise to 4.4 per cent by year end but signs point to a labour market still in rude health. The bank's monthly business survey, released last week, showed business conditions spiked nine index points while ANZ-Indeed job ads climbed to a 12-month high. Despite the Reserve Bank surprising economists and traders by leaving rates on hold on Tuesday, Mr Spence does not expect a major negative impact on the economy, given three more cuts are still priced in by early next year. "I think the focus for the RBA will be ensuring the labour market remains healthy going forward," he told AAP. "The timing of cuts is not super important. It's more about where do they end up." Household spending has recovered slower than expected in the first half of 2025, as global uncertainty weighed on consumers and set back the handover from public to private demand as the main driver of economic growth. Further cuts towards what the central bank sees as a more neutral cash rate will be needed to support consumption, Mr Spence said. Another insight into household confidence levels will be revealed in the Westpac-Melbourne Institute consumer sentiment report on Tuesday. On Wednesday, the ABS will release building activity data for the March quarter. The number of dwellings that began construction in the last three months of the year fell 4.4 per cent to just under 42,000, well below the 60,000 a quarter needed to reach the national housing accord target of 1.2 million new homes over five years. After trending upwards through the second half of 2024, building approvals have flatlined since January. Wall Street investors meanwhile appear to have gone cold on US trade policy, with Meta Platforms weighing on the S&P 500 after Donald Trump intensified his tariff offensive against Canada. The president has ramped up his tariff assault, saying the US will impose a 35 per cent tariff on Canadian imports next month and plans are afoot to impose blanket tariffs of 15 per cent or 20 per cent on most other trading partners. The S&P 500 declined 0.33 per cent to end the session at 6,259.75 points, the Nasdaq was down 0.22 per cent to 20,585.53 points and the Dow Jones Industrial Average fell 0.63 per cent to 44,371.51 points. Australian share futures dropped 13 points, or 0.15 per cent, to 6,847. The benchmark S&P/ASX200 index on Friday finished down 9.1 points, or 0.11 per cent, to 8,580.1, while the broader All Ordinaries dipped 6.4 points, or 0.07 per cent, to 8,820.3. Despite expectations unemployment will rise over the course of 2025, forward indicators point to more jobs growth ahead of the Australian Bureau of Statistics' labour force release on Thursday. Economists predict the figures to show the unemployment rate held at a relatively low 4.1 per cent in June, while about 20,000 jobs are tipped to have been added to the economy. NAB's head of Australian economics, Gareth Spence, still expects the jobless rate to rise to 4.4 per cent by year end but signs point to a labour market still in rude health. The bank's monthly business survey, released last week, showed business conditions spiked nine index points while ANZ-Indeed job ads climbed to a 12-month high. Despite the Reserve Bank surprising economists and traders by leaving rates on hold on Tuesday, Mr Spence does not expect a major negative impact on the economy, given three more cuts are still priced in by early next year. "I think the focus for the RBA will be ensuring the labour market remains healthy going forward," he told AAP. "The timing of cuts is not super important. It's more about where do they end up." Household spending has recovered slower than expected in the first half of 2025, as global uncertainty weighed on consumers and set back the handover from public to private demand as the main driver of economic growth. Further cuts towards what the central bank sees as a more neutral cash rate will be needed to support consumption, Mr Spence said. Another insight into household confidence levels will be revealed in the Westpac-Melbourne Institute consumer sentiment report on Tuesday. On Wednesday, the ABS will release building activity data for the March quarter. The number of dwellings that began construction in the last three months of the year fell 4.4 per cent to just under 42,000, well below the 60,000 a quarter needed to reach the national housing accord target of 1.2 million new homes over five years. After trending upwards through the second half of 2024, building approvals have flatlined since January. Wall Street investors meanwhile appear to have gone cold on US trade policy, with Meta Platforms weighing on the S&P 500 after Donald Trump intensified his tariff offensive against Canada. The president has ramped up his tariff assault, saying the US will impose a 35 per cent tariff on Canadian imports next month and plans are afoot to impose blanket tariffs of 15 per cent or 20 per cent on most other trading partners. The S&P 500 declined 0.33 per cent to end the session at 6,259.75 points, the Nasdaq was down 0.22 per cent to 20,585.53 points and the Dow Jones Industrial Average fell 0.63 per cent to 44,371.51 points. Australian share futures dropped 13 points, or 0.15 per cent, to 6,847. The benchmark S&P/ASX200 index on Friday finished down 9.1 points, or 0.11 per cent, to 8,580.1, while the broader All Ordinaries dipped 6.4 points, or 0.07 per cent, to 8,820.3. Despite expectations unemployment will rise over the course of 2025, forward indicators point to more jobs growth ahead of the Australian Bureau of Statistics' labour force release on Thursday. Economists predict the figures to show the unemployment rate held at a relatively low 4.1 per cent in June, while about 20,000 jobs are tipped to have been added to the economy. NAB's head of Australian economics, Gareth Spence, still expects the jobless rate to rise to 4.4 per cent by year end but signs point to a labour market still in rude health. The bank's monthly business survey, released last week, showed business conditions spiked nine index points while ANZ-Indeed job ads climbed to a 12-month high. Despite the Reserve Bank surprising economists and traders by leaving rates on hold on Tuesday, Mr Spence does not expect a major negative impact on the economy, given three more cuts are still priced in by early next year. "I think the focus for the RBA will be ensuring the labour market remains healthy going forward," he told AAP. "The timing of cuts is not super important. It's more about where do they end up." Household spending has recovered slower than expected in the first half of 2025, as global uncertainty weighed on consumers and set back the handover from public to private demand as the main driver of economic growth. Further cuts towards what the central bank sees as a more neutral cash rate will be needed to support consumption, Mr Spence said. Another insight into household confidence levels will be revealed in the Westpac-Melbourne Institute consumer sentiment report on Tuesday. On Wednesday, the ABS will release building activity data for the March quarter. The number of dwellings that began construction in the last three months of the year fell 4.4 per cent to just under 42,000, well below the 60,000 a quarter needed to reach the national housing accord target of 1.2 million new homes over five years. After trending upwards through the second half of 2024, building approvals have flatlined since January. Wall Street investors meanwhile appear to have gone cold on US trade policy, with Meta Platforms weighing on the S&P 500 after Donald Trump intensified his tariff offensive against Canada. The president has ramped up his tariff assault, saying the US will impose a 35 per cent tariff on Canadian imports next month and plans are afoot to impose blanket tariffs of 15 per cent or 20 per cent on most other trading partners. The S&P 500 declined 0.33 per cent to end the session at 6,259.75 points, the Nasdaq was down 0.22 per cent to 20,585.53 points and the Dow Jones Industrial Average fell 0.63 per cent to 44,371.51 points. Australian share futures dropped 13 points, or 0.15 per cent, to 6,847. The benchmark S&P/ASX200 index on Friday finished down 9.1 points, or 0.11 per cent, to 8,580.1, while the broader All Ordinaries dipped 6.4 points, or 0.07 per cent, to 8,820.3. Despite expectations unemployment will rise over the course of 2025, forward indicators point to more jobs growth ahead of the Australian Bureau of Statistics' labour force release on Thursday. Economists predict the figures to show the unemployment rate held at a relatively low 4.1 per cent in June, while about 20,000 jobs are tipped to have been added to the economy. NAB's head of Australian economics, Gareth Spence, still expects the jobless rate to rise to 4.4 per cent by year end but signs point to a labour market still in rude health. The bank's monthly business survey, released last week, showed business conditions spiked nine index points while ANZ-Indeed job ads climbed to a 12-month high. Despite the Reserve Bank surprising economists and traders by leaving rates on hold on Tuesday, Mr Spence does not expect a major negative impact on the economy, given three more cuts are still priced in by early next year. "I think the focus for the RBA will be ensuring the labour market remains healthy going forward," he told AAP. "The timing of cuts is not super important. It's more about where do they end up." Household spending has recovered slower than expected in the first half of 2025, as global uncertainty weighed on consumers and set back the handover from public to private demand as the main driver of economic growth. Further cuts towards what the central bank sees as a more neutral cash rate will be needed to support consumption, Mr Spence said. Another insight into household confidence levels will be revealed in the Westpac-Melbourne Institute consumer sentiment report on Tuesday. On Wednesday, the ABS will release building activity data for the March quarter. The number of dwellings that began construction in the last three months of the year fell 4.4 per cent to just under 42,000, well below the 60,000 a quarter needed to reach the national housing accord target of 1.2 million new homes over five years. After trending upwards through the second half of 2024, building approvals have flatlined since January. Wall Street investors meanwhile appear to have gone cold on US trade policy, with Meta Platforms weighing on the S&P 500 after Donald Trump intensified his tariff offensive against Canada. The president has ramped up his tariff assault, saying the US will impose a 35 per cent tariff on Canadian imports next month and plans are afoot to impose blanket tariffs of 15 per cent or 20 per cent on most other trading partners. The S&P 500 declined 0.33 per cent to end the session at 6,259.75 points, the Nasdaq was down 0.22 per cent to 20,585.53 points and the Dow Jones Industrial Average fell 0.63 per cent to 44,371.51 points. Australian share futures dropped 13 points, or 0.15 per cent, to 6,847. The benchmark S&P/ASX200 index on Friday finished down 9.1 points, or 0.11 per cent, to 8,580.1, while the broader All Ordinaries dipped 6.4 points, or 0.07 per cent, to 8,820.3.
Perth Now
13-07-2025
- Business
- Perth Now
All signs point to jobs market holding firm in new data
The unusual resilience of Australia's jobs market is expected to continue in fresh data due out this week. Despite expectations unemployment will rise over the course of 2025, forward indicators point to more jobs growth ahead of the Australian Bureau of Statistics' labour force release on Thursday. Economists predict the figures to show the unemployment rate held at a relatively low 4.1 per cent in June, while about 20,000 jobs are tipped to have been added to the economy. NAB's head of Australian economics, Gareth Spence, still expects the jobless rate to rise to 4.4 per cent by year end but signs point to a labour market still in rude health. The bank's monthly business survey, released last week, showed business conditions spiked nine index points while ANZ-Indeed job ads climbed to a 12-month high. Despite the Reserve Bank surprising economists and traders by leaving rates on hold on Tuesday, Mr Spence does not expect a major negative impact on the economy, given three more cuts are still priced in by early next year. "I think the focus for the RBA will be ensuring the labour market remains healthy going forward," he told AAP. "The timing of cuts is not super important. It's more about where do they end up." Household spending has recovered slower than expected in the first half of 2025, as global uncertainty weighed on consumers and set back the handover from public to private demand as the main driver of economic growth. Further cuts towards what the central bank sees as a more neutral cash rate will be needed to support consumption, Mr Spence said. Another insight into household confidence levels will be revealed in the Westpac-Melbourne Institute consumer sentiment report on Tuesday. On Wednesday, the ABS will release building activity data for the March quarter. The number of dwellings that began construction in the last three months of the year fell 4.4 per cent to just under 42,000, well below the 60,000 a quarter needed to reach the national housing accord target of 1.2 million new homes over five years. After trending upwards through the second half of 2024, building approvals have flatlined since January. Wall Street investors meanwhile appear to have gone cold on US trade policy, with Meta Platforms weighing on the S&P 500 after Donald Trump intensified his tariff offensive against Canada. The president has ramped up his tariff assault, saying the US will impose a 35 per cent tariff on Canadian imports next month and plans are afoot to impose blanket tariffs of 15 per cent or 20 per cent on most other trading partners. The S&P 500 declined 0.33 per cent to end the session at 6,259.75 points, the Nasdaq was down 0.22 per cent to 20,585.53 points and the Dow Jones Industrial Average fell 0.63 per cent to 44,371.51 points. Australian share futures dropped 13 points, or 0.15 per cent, to 6,847. The benchmark S&P/ASX200 index on Friday finished down 9.1 points, or 0.11 per cent, to 8,580.1, while the broader All Ordinaries dipped 6.4 points, or 0.07 per cent, to 8,820.3.
West Australian
28-06-2025
- West Australian
Leaving Violence Program made permanent as trial helps 100,000 people flee intimate partner violence
A trial program that has helped more than 100,000 people leave violent partners will become a permanent fixture from Tuesday. The Leaving Violence Program will give victim-survivors access to up to $5000 in financial support, and will be available to those who are planning to leave or have recently left a violent intimate partner relationship. It builds on the success of the Federal Government's two-year Escaping Violence Payment trial, which saw more than 100,000 people access the payment. 'We want women fleeing violence to know that financial support is available,' Social Services Minister Tanya Plibersek said. One of many who accessed the trial was a woman who fled a former relationship after noticing behaviours she described as becoming progressively more controlling. She fled her ex-partner after he assaulted her, and then threatened to kill her if she went to the police, driving to a new city in the middle of the night with her cat. Fearing for her safety, the woman slept in her car for several days. It wasn't until she was dropping her cat off to a carer that she was told about the EVP trial. Her application was accepted. Once engaged with the service, the woman was supported in seeking help from her GP, finding new accommodation and managing her finances with assistance of the payment. The trial has helped tens of thousands of other women secure accommodation, pay rent, buy food and other household goods, as well as school uniforms and supplies. Ms Plibersek said making the program permanent will help women feel supported to safely leave violent relationships. 'People often ask, 'Why doesn't she leave?' What we should ask is, 'Where would she go?' and 'What help is available?',' Ms Plibersek said. Economic insecurity is a key barrier to people leaving violent partners. The Australian Bureau of Statistics' 2021-22 Personal Safety Survey estimates more than a quarter of Australian women have experienced violence, emotional abuse or economic abuse by a cohabiting partner. Of those women, almost one in five experienced economic abuse. The new National Partnership Agreement on Family, Domestic and Sexual Violence Responses 2025 will also begin on Tuesday. Delivered with State and Territory governments, the renewed partnership will deliver more than $700 million in new, matched investments from the Commonwealth, States and Territories. 1800 RESPECT (1800 737 732) MensLine Australia 1300 789 978
