Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Australia inflation slows but sticky core to push RBA cut to 2025
SME challenges to be left in ‘rear-view mirror’
The November edition of the NAB Business Pulse highlighted good news for struggling small businesses, with relief predicted to come as soon as February 2025. The pulse revealed NAB now predicted the Reserve Bank will begin lowering rates in February 2025, a full quarter earlier than expected.
Australians face decades of economic stagnation
Australia is currently experiencing its longest per capita recession in recorded history. What that means is that while the overall economy is growing very slowly, because we have this extreme population growth, the economy per person has actually shrunk for six consecutive quarters and seven of the last eight quarters. This week’s interview on Professor David Flint’s Save The Nation Program explained why Australians face decades of economic stagnation under current policy settings.
NAB expects economic headwinds to become tailwinds
Australia’s economy could be at a low point that will see current headwinds morph into tailwinds, though property price growth is expected to moderate in 2025, according to an update from NAB.
APRA increasing scrutiny of expenditure by superannuation trustees
APRA recently announced in a letter to all superannuation trustees that it will intensify scrutiny of ‘fund-level expenditure to hold RSE Licensees accountable to improve practices’ and ‘reduce spending that is deemed to not be in members’ best financial interests’.
How the US election will shape the Australian business landscape
In a report published by the Commonwealth Bank, United States Studies Centre director of research, Jared Mondschein, offers his views on why the United States has become more important than ever to Australia and business leaders should be paying close attention to the upcoming election.
Australian Tax Office reels in $100 billion in corporate taxes
Corporate Australia has paid nearly $100 billion in income tax for the 2022/23 financial year, marking a record 16.7 percent increase from the previous year, according to the Australian Taxation Office’s latest report.
Australia’s 2-speed SME economy ‘now in overdrive’
An emerging report has found further evidence that the Australian SME economy is comprised of many diverse regional markets.
Retail spending flat despite stage 3 tax cuts flowing through economy
Stage 3 tax cuts and wage growth have only marginally lifted retail sales in Australia, sparking warnings of a negative GDP quarter for September. Retail turnover in September rose just 0.1 per cent, according to seasonally adjusted figures released on Thursday by the Australian Bureau of Statistics (ABS).
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