Articles on Australian economy

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Australia has committed to a long-term global average temperature increase to no more than two degrees Celsius – yet often envisions a future in which its is a major coal exporter. EPA/FEDERICO GAMBARINI

A tale of two futures: Australia’s economy under climate change

When it comes to climate change and Australia's economic future, different crystal balls can produce vastly different results.
Treasurer Joe Hockey’s failure to talk about basic measures of the economy in his second budget speech is telling. AAP/Mick Tsikas

Three missing letters say it all about Hockey’s budget pitch

A budget speech that fails to discuss basic measures of how the economy going is revealing in itself. Joe Hockey is the first treasurer since at least 1981 not to mention GDP.
Treasurer Joe Hockey and Finance Minister Mathias Cormann speak to media during the 2015 budget lockup. AAP Image/Lukas Coch

Path to budget surplus built on shifting foundations

The impact of 2015 budget measures delivered by the government pale into insignificance when compared with the external factors hurting the budget bottom line.
Australia can expect expansion in sectors such as tourism, the health and financial services sectors, banking and securities. AAP Image/Joel Carrett

As the mining boom wanes, Australia pivots to services

Mining, along with agriculture, will continue to be key parts of the Australian economy -- but new growth is expected in the services sector.
As economic growth in China moderates, so will its demand for Australia’s raw materials. AAP Image/Alan Porritt

Australia’s ‘five pillar economy’: mining

The mining boom is over and the industry is employing fewer workers -- but the outlook for mining in Australia seems generally good.
The People’s Bank of China surprised observers by cutting its reserve requirement ratio by 100 basis points to 18.5% on the weekend. EPA/MARK

China’s required reserve ratio cut will nudge Australia along

Most of the new credit released after China's central bank cut the required reserve ratio will be used to fund new investment in infrastructure and construction -- and that's good news for Australia.
Journalist George Megalogenis takes an affectionate journey through the milieu of Australia’s economic reform in a new ABC documentary, Making Australia Great. ABC TV

Making Australia Great despite themselves: PMs stake rival claims

A line-up of former prime ministers stake their rival claims to making Australia great, in a new series by journalist George Megalogenis.
Business confidence is largely based on gut-feel, but the good news is, it can be manipulated. Image sources from www.shutterstock.com

An economist’s guide to business and consumer confidence

It would seem odd that the guesses of a random collection of people inform economic policy. But there's more to consumer sentiment than that.
Women and older people form two ‘armies’ Treasurer Joe Hockey is hoping will help protect Australia’s future prosperity. Mick Tsikas/AAP

Hockey looks to ‘armies’ in Intergenerational Report: experts react

Experts question where the jobs for older Australians will come from.
Partied too hard? Julian Smith/AAP

Australia must prepare for the mother of all hangovers

You know Australia’s in trouble when the Reserve Bank cuts interest rates. Last week, the central bank did precisely that, in belated recognition of the income recession that has struck. Gross domestic…
The policies Australia needs are being blocked in the Senate. Lukas Coch/AAP

Senate stalemate must end so we can face economic headwinds

Much of the current political turmoil in Australia can be traced to Bill Clinton’s famous aphorism: “it’s the economy stupid” – in particular, the plunge in world commodity prices over the past few years…
There is a silver lining to the end of the mining boom. Image sourced from Shutterstock.com

Turning headwinds into tailwinds: the economy can correct course

What is the new normal for the Australian economy? With unemployment rising, commodity prices reaching new lows, and confidence subdued, is the Australian economy prepared to handle offshore headwinds…
Could a Turnbull-Abbott partnership be the circuit breaker the government needs? Lukas Coch/AAP

Is it time for Treasurer Malcolm Turnbull?

In the wake of Monday’s attempted Liberal leadership spill, Australian Prime Minister Tony Abbott clearly needs to do something to shore up support. He’s been offered all manner of unsolicited advice…
Selling reform to voters has proven challenging for the Prime Minister, but there are alternative options. Nikki Short/AAP

Governments paying price for ‘do it now or die’ approach to reform

The move to challenge the leadership of Prime Minister Tony Abbott, coming soon after the shock Queensland election outcome, has in some quarters been blamed on a lack of appetite for reform on the part…
The less surprised markets are on interest rate moves the better. Paul Miller/AAP

Quelle surprise? Why it’s good for markets to second-guess the RBA

Though markets had somewhat priced in an Australian interest rate cut yesterday, many analysts and commentators were still left surprised. The rate had not been cut for 18 months. Over that period commentary…
The relationship between PM and treasurer can make or break a treasurer’s reign. Lukas Coch/AAP

Hockey-Abbott partnership looks shaky against treasurers past

For a number of reasons, now is not a good time to be Australia’s federal treasurer. The resources boom has lost its mojo, the economy is faltering and the dollar is falling along with the terms of trade…
Queensland’s debt: is it sky high, or under control? An economist shows what you need to know to judge for yourself. AAP/Dan Peled

The true state of Queensland debt

How much debt is Queensland really in? How much of that debt can past Labor governments bear responsibility for, and has the current Liberal National government cut or added to it? And how does Queensland’s…

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