Tag: Australian Economy

Ongoing economic uncertainty caused business confidence to fall nearly ten points in February, to 108.9, after six consecutive months of rises to January 2012.

Business expectations have slid this quarter, as interest rate worries and ongoing pressure from the strong Australian dollar weighs on local SMBs.

The recovery in economy-wide spending appears to have consolidated as business sales remain positive, according to the latest Commonwealth Bank Business Sales Indicator (BSI).

Despite global financial volatility, local businesses are feeling optimistic as they look towards implementing more efficient cost-cutting measures.

Despite improving conditions in the global economy local consumer confidence has fallen, as households remain concerned about the state of their own finances.

Westpac will cut around 400 jobs from its head office, technology and operations teams this year, to compensate for a slow down in loan growth.

Australia’s economy is predicted to continue on its upswing over the coming years, leading to a boom later this decade. With the BIS Shrapnel Long Term Forecasts update reporting Australia is in the recovery phase after what has been a relatively modest downturn. Unfortunately though, as a result of this renewed growth phase, interest rates […]

The Commonwealth Bank of Australia (CBA) has refused to rule out possible job cuts within the bank, as they prepare for the worst. According to CBA chief executive Ralph Norris, the economy is set to get worse as unemployment rises and further threatens the banking system. “There’s no doubt that the toughest period in the […]

As the Australian economy slows, the Government has taken swift action to protect jobs by cutting the immigration intake by 14 percent. Immigration Minister, Chris Evans is set to announce a 14 percent cut to the skilled migration program, capping the number of workers entering Australia at 115,000, down from 133,500 in 2008-09. The decision […]

Small businesses are being urged to take advantage of the Government’s 30 percent Investment Allowance before the June 30 2009 deadline.