Latest figures from the Australian Bureau of Statistics show the country’s GDP growing by 1.2% in the second quarter of 2010, compared with 0.7% in the previous three month period. The spurt, which was driven by a 1.6% increase in household expenditure and an increase in exports of 5.6%, puts economic growth at 3.3% for [...]
Figures today revealed Australia’s unemployment rate rose unexpectedly to 5.3% in July from 5.1% in June. According to the Australian Bureau of Statistics, 24,600 more people were out of work surprising analysts who had expected no change. However, experts said the surprise rise may partly be due to revised population figures, which showed there were [...]
Australia has today revised its annual growth forecast from 3.25% to 3% due to uncertainty surrounding the global economic recovery.
Australia is one of the few developed economies not to have fallen into recession like its counterparts throughout the world as it has benefited from an increase in commodity prices, while exports have received a boost [...]
Australian Ethical Investments has announced plans to invest in ethically dubious energy firms with the aim of changing their business practices through shareholder activism.
The Climate Advocacy Fund (CAF), launched today, will invest in big polluters with the aim of using shareholder influence to encourage firms to green themselves up.
Companies will urged to rethink how they [...]
Figures today revealed Australia’s jobs market remains strong after employment hit a record high of 11.1 million people at work.
According to the Australian Bureau of Statistics, the economy created almost 46,000 jobs last month – smashing analysts forecasts of 15,000.
The latest figures means the unemployment rate held steady at 5.1%.
Westpac Bank expects the [...]
A survey by Westpac bank and the Melbourne Institute has revealed that Australian consumer confidence took another dive in June.
The study, which questioned 1,200 people, found that consumer morale in June fell by 5.7% to a reading of 101.9 and followed a 7% drop in May.
The fall was attributed to global economic worries and [...]