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The Latest Breaking News on Economy

Government defends faster inflation fall than RBA

Inflation will be back within the Reserve Bank's target range a year earlier than the bank has predicted, based on government budget figures.

AAP

Wages, jobs updates to come with budget week

As well as a federal budget, Australia will get its quarterly check-up on worker wages, business surveys and monthly jobs figures.

AAP

UK Economy Exits Recession Ahead Of Election

Gross domestic product expanded 0.6 percent in the first three months of this year, the Office for National Statistics (ONS) said, noting strong growth in service industries and car manufacturing.

International Business Times

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Consumers tipped to stash tax-cut savings for rainy day

Australians plan to stash their stage three tax cut cash, a key cost of living relief measure in the budget, in promising news for inflation

AAP

Cost of living, net-zero industries focus of May budget

The third federal budget under the Albanese government will be handed down on Tuesday and a number of measures have already been unveiled.

AAP

Budget sneak peek predicts higher wages and tax breaks – but no increase for Australians on jobseeker

Government dampens hopes for an increase to jobseeker, despite pressure from economists, social justice groups and equality advocates

The Guardian - AU

Fed Rate Cuts Still on Hold

With inflation stubbornly elevated, the Federal Reserve will keep interest rates high for now.

Kiplinger

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Budgets and Bills passed with little deliberation

Madhya Pradesh passed 85% of its Budget without discussion in 2023 followed by Kerala and Jharkhand

The Hindu

Don't like Biden's economy? OK, but ...

Authoritarians always screw up the economy — come to think of it, GOP presidents have done that for decades

Salon

The budget reveals what governments actually care about. And Labor has chosen to keep jobseekers in poverty

The government could easily index jobseeker to whichever is highest of the CPI or wage price index

The Guardian - AU

US Private Sector Job Growth Higher Than Expected: ADP

Hiring in the US private sector cooled in April but job growth was still higher than anticipated, boosted by the services sector, payroll firm ADP said Wednesday.

International Business Times

What is the significance of Labour Day or May Day? | Explained

The Hindu decodes the history of Labour Day and why it is celebrated worldwide.

The Hindu

Asian Markets Track Wall St Down Ahead Of Fed Decision

Asian stocks sank in holiday-thinned trade Wednesday, tracking a sharp sell-off on Wall Street after fresh US data dealt another blow to hopes the Federal Reserve will cut interest rates this year.

International Business Times

Towards a green growth: On the RBI and a green taxonomy

The effort should be to mitigate the transitional risks to the financial system as the economy moves towards a sustainable future

The Hindu

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AAP

Borrowers warned not to count on 2024 rates relief

Hotter-than-expected inflation data has likely pushed back the start date for interest rate cuts, a move that will keep pressure on mortgage holder budgets.

International Business Times

German Forecast To Offer Signs If Ailing Economy On The Mend

The German government will present its latest growth forecasts on Wednesday as Europe's crisis-hit top economy shows tentative signs it is finally turning a corner.

The Hindu

Election-bound Tamil Nadu among top States in many socio-economic measures: Data

Analysis of Tamil Nadu's economic, social, and environmental indicators reveals holistic development, with focus needed on sustainable growth.

AAP

Treasurer admits 'difficult' budget ahead for Qld

The Queensland government will maintain its commitment to cost-of-living relief for households despite the treasurer warning of a difficult budget ahead.

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AAP

Budget surplus 'still our goal' despite war, inflation

A budget surplus is "still our goal" but the degree of difficulty has risen with global economic uncertainty hitting tax revenue, Treasurer Jim Chalmers says.

Evening Standard

Economists 'can safely say' recession is over after February GDP rise, but growth still slow

The meagre growth, not helped by torrential rain that hammered the construction sector, marks a slowdown from a 0.3% advance in January

The Guardian - AU

Whether Australia’s budget has a surplus tells us little about the government’s worth – it’s all on the choices made

Do you direct the recourses of the economy on things that produce good outcomes for Australians, or spend $4.6bn to improve the UK economy?

The Guardian - UK

Conservatism’s biggest failure is the despair it has created about Britain’s future

Fantasies about British exceptionalism have brought the UK to the brink of collapse. We need a new, realistic vision, says author and journalist Will Hutton

The Hindu

Former Jharkhand CM Hemant Soren withdraws from Supreme Court his plea against HC order

Former Jharkhand CM Hemant Soren withdraws plea challenging high court order, remains under judicial custody for money laundering case.

The Guardian - UK

Why UK recession may be deeper than two quarters of falling GDP suggest

Greater fall per head and latest trade data illustrate longer term decline of economy

The Hindu

Wages of Indian workers have remained almost same in last 10 years: Data

A report by Bahutva Karnataka shows that the share of self-employed workers increased, while the share of those in formal employment remained low

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