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The Latest Breaking News from Deloitte Access Economics

'Optimism' in budget as Australia seen turning a corner

The cost of living will be centre stage in the government's budget as many continue to do it tough, but a cabinet minister says there is reason to have hope.

AAP

Economists less confident of RBA rate cut than market

An AAP survey of 32 leading Australian economists has tipped the Reserve Bank to cut interest rates this week, but more than one in five remain unconvinced.

AAP

'Surprise' budget windfalls drying up, economists warn

Australia's budget fortunes are shifting, with Deloitte Access Economics predicting a deeper deficit than predicted in the May budget.

AAP

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Infrastructure humps likely to curb housing targets

The water pipes and bitumen needed for new housing have emerged as a new frontier in the housing crisis debate as economist warn affordability could get worse.

AAP

Older and youngest workers vulnerable if hiring stalls

A weaker labour market is felt unevenly by different industries and demographics, with older workers and those new to the workforce most at risk.

AAP

APS dollars staved off the worst of cost of living crisis: report

APS spending is predicted to boost the ACT's economy.

The Canberra Times

Workers underprepared as AI reaches turning point

Few Australian businesses are fully prepared to deploy a transformational technology set to democratise intelligence to almost all workers, a report says.

AAP

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Consumers paying the price for 'slow' data right scheme

The economy would get a $16.7 billion boost within decades and almost 50,000 new jobs if consumers could give the nod to sharing more data, economists say.

AAP

ACT's rate of sales growth tops country as retail recession ends

But tough economic times may linger for a while, Deloitte says.

The Canberra Times

Employment slowdown to hit blue collar workers hardest

Conditions are finally turning after a bumper few years for the labour market, with some fields to be hit harder than others.

AAP

Miners demand share of tax relief to dig for net-zero

Australia has a treasure trove of critical ores but nickel and lithium producers want tax relief to get it out of the ground and into the world's electric cars.

AAP

Shoppers in retreat after Black Friday boost

Australian retail sales plummeted in the final weeks of 2023 with shoppers doing their Christmas shopping a month early when goods go on sale.

AAP

'Shock, after shock' poses inflation risk: RBA boss

The global economic shocks just keep coming and Reserve Bank of Australia Governor Michele Bullock is concerned about the impact on the outlook for inflation.

AAP

Deloitte joins RBA in tipping 4.5% Australian jobless rate thanks to slow consumer spending

Slowdown in consumer is finally flowing through to Australia’s jobs market, according to the latest forecasts from Deloitte Access Economics

The Guardian - AU

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ABC News

Did the Reserve Bank's interest rate hikes put Australia's economy on a 'knife-edge'? A major consulting firm thinks so

A major consulting firm forecasts a "consumer recession" in 2023, warning hundreds of thousands of Australian households are bleeding cash every month.

AAP

Crunch time for Aust's hydrogen industry, Forrest warns

Australia must aggressively incentivise its fledgling green hydrogen industry this year or say goodbye to global markets, billionaire Andrew Forrest warns.

AAP

Net-zero fail without green hydrogen tax breaks: report

Australia's advantages in renewable hydrogen are being eroded by aggressive tax breaks in the United States that could lock locals out of the future industry.

AAP

Recession fears if interest rates hiked

Deloitte Access Economics warns Australia could fall into a recession if the central bank lifts interest rates again, with households already hurting.

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The Guardian - AU

Many Australian businesses will scale back climate action when economy slows, survey finds

The 2022 Climate Check international survey also found support in Australia for a crackdown on ‘greenwashing’

The New Daily

Food prices to soar another 5.5 per cent over next year: Deloitte

Australians are being warned that much higher food price growth could become the norm at major supermarkets as grocery inflation continues to soar.

The Guardian - AU

Migration rebound slowed by Australians leaving the country since borders reopened

Deloitte employment forecast adds to calls to improve pathways to permanency for skilled migrants and expand humanitarian visa program

AAP

Skilled migration needs overhaul: report

A report from Deloitte Access Economics has urged an overhaul of Australia's skilled migration program to help ensure a strong, long-term labour market.

ABC News

Corporations' profits soaring as inflation skyrockets and real wages fall, report reveals

There are fresh calls for Australia's biggest corporations to rein in record profits in order to provide low wage earners with some cost-of-living relief.

AAP

Petrol back above $2 despite excise cut

Petrol prices are back at levels seen when former treasurer Josh Frydenberg halved fuel excise for six months in the March budget.

AAP

Investment to grow despite many hurdles

Deloitte Access Economics expects business investment to grow over the next five years despite facing near term hurdles, such as rising interest rates.

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