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Monday, December 23, 2024

Latest news: Economy

Australia’s economy tanked during COVID-19 lockdowns

Australia's economy sank by 1.9 per cent in the September quarter as a result of COVID-19 lockdowns in the nation's major states.

One person’s trash is another person’s treasure

Australians dump around 800 million kilograms of unwanted clothing into landfill each year, most of which consist of man-made fibres that are incredibly difficult to break down naturally, all in the name...

COVID roadmaps buoy business confidence

Business confidence has surged on the hope that roadmaps out of COVID-19 lockdowns will allow economic activity to rebound in coming months.

Treasurer makes economic case for net zero emissions

Frydenberg has declared it is in Australia's interest to back global climate targets as he makes the case for a 2050 net zero emissions goal.

Financial support expected to dry up as vaccination rate rises

Frydenberg is warning states not to expect the same level of financial support once Australia's COVID-19 vaccination rate passes 70 per cent.

Accountants worry over economic outlook

Nearly half of Australia's accounting fraternity are worried about the state of the economy over the next three months.

Economists fear even deeper downturn

Australia's economic downturn appears to be going from bad to worse as virus lockdowns in the nation's biggest states become broader.

Unemployment rate to rise in weakened economy

The rapid decline in the unemployment rate to a decade low looks set to come to an end, a casualty of multiple virus restrictions across the country in recent weeks.

Transport strike action could threaten deliveries

More transport workers are threatening strike action after talks broke down with their employers StarTrack and FedEx, in what the Transport Workers' Union says has "the potential to cause chaos" to parcel deliveries.

Snap lockdowns essential for now: Treasury

Josh Frydenberg has warned until 70 per cent of Australians are vaccinated, it is an economic imperative that governments use snap lockdowns.

Treasurer less certain on economic outlook

Josh Frydenberg appears less confident that a recession can be avoided as NSW's lockdown looks set to drag on beyond the end of the month.

Phillip Island, regions struggle with stop-start tourism

Tourism makes up 44 per cent of Phillip Island's economy, worth an estimated $529 million the year before the pandemic hit.

Frydenberg confident of avoiding recession despite lockdowns

The Australian economy is set to take a whack from the impact of half of the population being in lockdown, but Treasurer Josh Frydenberg is confident it won't result in a second recession in as many years.

NSW building lockdown adds to economy woes

Economists believe the first contraction in the national economy since the depths of the COVID-19 pandemic is increasingly likely.

Economy faces significant impact from NSW lockdowns

The lockdowns in parts of NSW will have a significant impact on the national economy, Treasurer Josh Frydenberg warns.

Aid at hand as NSW lockdown set to extend

The risk of a protracted virus lockdown in the nation's biggest city will have a major impact on the broader Australian economy.

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