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Economy news

Want to know what’s happening with the Australian economy? We’ve got it covered.

We guarantee the most up-to-date new stories about the economic climate, issues and so on, which are written by local and international reporters exclusively for you.

COVID-19 Update 8 June

08 June 2020 In: Health, Economy, General

COVID-19 lockdown is lifting to help parents with school-age children but it will come at a cost. Free childcare in Australia will end on July 12, now that demand has returned to 70% of pre-pandemic levels. Education Minister Dan Tehan says that measures will be in place to protect facilities and families whose incomes have been harmed by the COVID-19 lockdown restrictions. The number of new Australian COVID-19 cases dropped by 30% in the past…

Australia trade surplus

06 June 2020 In: Finance, Economy, General

Australia trade has remained buoyant for the fourth quarter in succession. Australia recorded an $8.4 billion current account surplus in the March quarter 2020, the fourth in succession, as COVID-19 effects impacted international trade. The current account surplus was driven by a trade surplus of $19.2 billion and a narrowing of the net income deficit to $10.6 billion, according to the latest information released by the Australian Bureau of Statistics. ABS Chief Economist Bruce Hockman…

Australia Migration & Study ‘still active’

04 June 2020 In: Migration, Economy, General

Australia Migration is still an active and on-going process despite COVID-19 restrictions and economic downturn. “Australia may have reported a period of recession but underlying economy remains healthy with migration and study still available and ongoing,” says Darrell Todd, CEO of ThinkingAustralia. “Most countries are now reporting record economic slowdown, Australia is not immune. But growth is set to return by the end of the year with a major economic bounce in 2021. “Now more…

Australia Flights to Resume

03 June 2020 In: Travel, New Zealand, Economy, General

Australia Flights to Resume: The travel industry group working on the “Trans-Tasman bubble” said flights between Australia and New Zealand could resume as soon as September. NSW public sector workers are to miss out on a pay rise in the wake of the pandemic. NSW Treasurer Dominic Perrottet said the decision had nothing to do with the state’s budget but was simply to free up dollars to generate new jobs. According to ABS unemployment data, 221,000…

COVID-19 Effect On Business

03 June 2020 In: Jobs, Health, Economy, General

COVID-19 has forced 70 per cent of Australian businesses to change how they operate, according to results from the fourth Australian Bureau of Statistics (ABS) survey on Business Impacts of COVID-19. ABS Head of Industry Statistics John Shepherd said that the survey also showed that seven in ten businesses (72%) had a decrease in revenue as a result of COVID-19. Mr Shepherd said: “Businesses that had changed the way they operate were more than twice…

COVID-19 Lockdown Saved 14,000 Lives

03 June 2020 In: Health, Economy, General

COVID-19 Lockdown worked down under. Around 14,000 lives were saved in Australia by social distancing, mass testing and border restrictions. Chief Medical Officer Brendan Murphy said social-distancing measures; border restrictions and an “aggressive public health response” had saved thousands of lives. Human trials for a US coronavirus vaccine have begun in Melbourne. Biotech company Novavax has partnered with Australian Nucleus Network for the trial that will involve 131 healthy participants. The COVID-19 vaccine, made in…

COVID-19: No Future Lockdown

26 May 2020 In: Health, Economy, Family

COVID-19: Australia is not expected to ever return to lockdown once restrictions to curb the coronavirus are lifted. That’s according to Federal Health Minister Greg Hunt who predicts “localised rings of containment,” if a suburban, facility-based or regional outbreak occurs in future. Future state or territory shutdown will only happen if there is “systemic, state-wide” community transmission, which is “highly unlikely”, according to Mr Hunt COVID-19: back to school Full-time attendance at school is now…

Australia Property Prices

24 May 2020 In: Property, Economy, General

Australia Property Prices increased by +0.7% in the past month, +2.7% for the quarter and +7.5% for the year. Industry analysts report that second half of March saw a weakening in growth as a result of social distancing rules and a fall in consumer confidence. Top performing capital cities for the month were Darwin (+2.0%), Sydney (+1.1%), Brisbane (+0.6%), and Canberra (+0.6%). Over the past quarter, the best performing capital cities were Sydney (+3.9%), Melbourne…

Australia Property Investment

24 May 2020 In: Property, Finance, Economy, General

Australia Property Investment: Here are ten locations across Australia that are worth investigating for investment purposes if you are seeking an apartment / unit with the prospect of solid returns. 1. Hobart apartments Tasmania as a whole has risen to the top of many property investors lists, mainly because it is affordable compared to Australia’s other state capitals, but also due to lifestyle factors which continue to draw people to the Apple Isle. In terms…

COVID-19 and Global Wealth

23 May 2020 In: Finance, Economy, General

COVID-19 Global Wealth Update: Some of the world’s largest companies and richest individuals have seen their fortunes grow at a staggering pace over recent years. Total global wealth at the end of 2019 was $360.6 trillion. But even the wealthiest companies and individuals aren’t immune to the impact of the coronavirus and leading analysts say 51% of current billionaires are worth less than they were last year. KIS Finance has explored how the COVID-19 emergency…

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