The International Monetary Fund has released its bi-annual World Economic Outlook report with the dire summary that the world will undergo a deep recession that will affect every country. The report also predicted that “the current recession is likely to be unusually long and severe and the recovery sluggish”. Analysis included: Recessions brought on by […]
Global trade will fall by nine percent this year, according to World Trade Organization (WTO) forecasts, the biggest decline since World War II. Considering that in 2007 trade grew by six percent, the 2009 figures represent a significant fall and have sparked fears of protectionism, initially brought on by the possibility that the US stimulus […]
“Avoiding recession will be difficult,” says Assistant Treasurer Chris Bowen. A recession is two consecutive quarters of negative growth; Australia’s first occurred in the last quarter of 2008 and this quarter is set to follow suit, he believes. “We haven’t gone there but… we are seeing, a slowdown,” Bowen admitted. “We have said all along […]
Staring down the barrel of an almost inevitable recession following a period of economic prosperity, many business owners are wrestling with an uneasy feeling that their businesses are not prepared to weather the challenges ahead. So how can you improve your cash flow situation and secure the financial support you need in order for your […]
The latest Dun and Bradstreet Business Expectations Survey has revealed that the economy will continue to slide into recession, with the worst yet to come. Expectations for the June 09 quarter are less than promising, with 57 percent of businesses anticipating declining sales and 65 percent expecting declining profits. The sliding Aussie dollar has also […]
The number of trade jobs advertised online fell in February, according to the Olivier Group. The Olivier Job Index fell by 9.08 percent in February, with the biggest falls coming from the trades, services, transport, engineering, building and construction sectors. Online advertisements for trades and services jobs slumped by 20.33 percent during February, while building […]
Moody’s Investors Service has given Australian banks some not so good news, cutting it’s ratings outlook to negative as a result of a slowing economy and mounting debts. In the first time since the 1991 recession, Australia’s big four banks have had a negative outlook on their AA ratings. The ANZ, Commonwealth Bank, Westpac and […]
Treasurer Wayne Swan has predicted that the economy is set to nosedive even further in the next few months as the backlash of the failing US and Asian economies hits Australia. Swan warned that the collapse of output amongst Australia’s major trading partners will have a dramatic impact on our economic growth. Growth in the […]
Business industry expert Taine Moufarrige has predicted that the “nimbleness” of small and medium sized businesses will enable them to flourish in 2009 and pull Australia out of recession. This comes off the back of news that Servcorp, the world’s finest serviced office and business solutions company, has posted positive half year results, with a […]
A second stimulus package, worth $42 billion, announced yesterday by the Federal Government will push the budget into deficit but will assist in the fight against recession says Prime Minister Kevin Rudd. “I don’t like being in deficit at all. This is not a question of choice. This is what we are required to do,” […]
