Consumer Confidence Rises After Hitting A 15 Month Low
Consumer confidence across Australia increase by 2.2 percent after previously dropping to its lowest level since October 2020. While respondents’ confidence in ‘current financial conditions’ jumped by 6.3 percent. According to a recently published survey undertaken by ANZ and Roy Morgan, this uptick pushed consumer confidence slightly above neutral at 100.1 for the week of […]
Consumer Confidence in Australia Drops to A Three Decade Low
As the number of covid-19 cases continue to rise across Australia, customers are avoiding spending as much money as possible. This is despite the fact that Australia ended 2021 on an economic high. However, according to research compiled by ANZ and Roy Morgan, Australia’s consumer sentiment dropped this month as concerns about the explosion in […]
Rise In Covid-19 Cases Triggers A Decrease In Early Year Spending
ANZ is reporting a huge decrease in early year spending across the country when compared to previous years. The caution in spending is a result of the significant spread of the Omicron variant of covid-19 especially in NSW where spending in the week to 2 January was 25 percent lower year-on-year. However, ANZ Research senior […]
New Business Grants Have Been Announced To Support South Australian SMEs
On Monday 13th September, The South Australian State Government announced introduction of two new business support grants to assist small and medium business across the state. The programs will deliver an extra $15 million in financial support to an estimated 3,500 local businesses. The newly announced Covid-19 Tourism and Hospitality Support Grantwill provide support for […]
ACT Budget Aims To Strengthen Economy Amid New Covid-19 Lockdown
The Covid-19 pandemic has had a huge impact on jobs, businesses, and industries that are critical to Canberra’s economy including the tourism, arts and events sectors. The 2021-22 ACT Budget aims to make a huge investment in job creation and encourage investment with a purpose of driving a stronger economic recovery. The newly announced $41 […]
Australia’s Economic Recovery Has Hit A Major Roadblock With Recent Lockdowns
Newly published data illustrates that Australia’s economic recovery significantly stagnated in July, as this was the month where small businesses recorded their worst performance since December 2020 in the face of ongoing lockdown restrictions affecting more than half of the Australian population. On Thursday 26th August Xero published results of their latest small business index, […]
Australia Is Experiencing an Increase in New Businesses Starting Despite Challenges of Covid-19
Newly published data collected by the Australian Bureau of Statistics (ABS) shows that there is an increase in the number of Australian businesses that are starting up, despite the tough restrictions, ongoing lockdowns and economic uncertainty that has been generated as a result of the covid-19 pandemic. The recently published data from the ABS, which […]
Australia Set To Avoid Another Recession Despite New Lockdowns
According to the Reserve Bank of Australia’s Governor Philip Lowe, Australia is set to avoid another recession, despite the countries recent economic comeback being halted by the number of new lockdowns introduced across the country to stop the spread of the Delta covid-19 variant. Mr. Lowe believes that Australia’s economy will bounce back quickly once […]
NSW State Government Announces Support Package for Small Businesses Impacted By New Lockdown
The New South Wales State Government has announced a new support package to assist small businesses with the economic impact caused by the recent two week lockdown. The package includes grants of between $5,000 and $10,000 for small businesses, payroll tax deferrals for all employers, and an extension of the Dine and Discover program to […]
Business Credits Defaults in Australia Increase By 9 Percent
It has been revealed by CreditorWatch that some of Australia’s economic recovery has slightly lost a bit of its momentum, as it has recorded a 9 percent increase in credit defaults across businesses. Recently released figures show that despite the fact that although credit defaults were 43 per cent lower for the three months to […]