Australia’s ‘mojo back’ RBA at bay

The release of the national accounts by the Australian Bureau of Statistics on Wednesday saw gross domestic product grow 2.4% in 2016, the strongest result in four years, after strong surges in the mining, agriculture, forestry and fishing industries The Bank of Melbourne's chief economist, Besa Deda, said the expansion looked set to continue throughout … Continue reading Australia’s ‘mojo back’ RBA at bay

Hug a farmer, they’ve saved our bacon

Agricultural growth surged by an extraordinary 27.6 per cent in 2016, the latest Australian Bureau of Statistics national accounts have revealed, following a record harvest in every state. While agriculture enjoyed leaps in growth, the traditional driver of the Australian economy ­ mining ­ grew by just 4.6 per cent. Retail struggled, and manufacturing and … Continue reading Hug a farmer, they’ve saved our bacon

China considers paying couples to have a second child

China is considering introducing birth rewards and subsidies to encourage couples to have a second child after surveys showed economic constraints were making many reluctant to expand families. Births rose to 17.86 million the highest level since 2000 after the government issued new guidelines in late 2015 allowing all parents to have two children amid growing … Continue reading China considers paying couples to have a second child

Battle over budget as Treasurer Scott Morrison won’t commit to saving mining windfall

1st March 2017 Battle over budget as Treasurer Scott Morrison won't commit to saving mining windfall   Treasurer Scott Morrison has told the government not spend the coming windfall in iron ore and coal prices, saying that if it did, that it would repeat the mistakes of prime minister John Howard and Peter Costello in … Continue reading Battle over budget as Treasurer Scott Morrison won’t commit to saving mining windfall

Wellbeing Index reveals life got better for Australians in 2016

3rd March 2017 Wellbeing Index reveals life got better for Australians in 2016   Australia's collective well  being grew more than twice the rate of the economy last year. The Fairfax-Laternal Economics well-being index which provides a broader measure of national welfare than economic figures-rose 5.8% in 2016. That compares with the annual GDP growth … Continue reading Wellbeing Index reveals life got better for Australians in 2016

Extreme heatwave days already hitting poorer nations more than rich

5th March 2017 Extreme heatwave days already hitting poorer nations more than rich   "Everyone's spoken for years about how poor countries are going to suffer more-or are suffering more-and I couldn't find one figure actually showing this," Nicholas Herold at the Climate Change Research Centre at the Universty of NSW said.than richer ones since … Continue reading Extreme heatwave days already hitting poorer nations more than rich