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The Latest Breaking News from Deloitte Access Economics

Longest stretch of weak growth since 1990s forecast

Rarely has Australia's near-term economic outlook appeared so gloomy, says Deloitte Access Economics.

AAP

Red alert for green iron: Australia risks its advantage

None of Australia's green iron projects are ready to launch and, without policy changes, the nation risks missing the opportunity to lead a global race.

AAP

Retailers under attack from weak demand, rising costs

Australia's retail sector faces a pincer attack as the war in the Middle East increases costs and pushes consumers to the brink.

AAP

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Signs of softening spending could stay RBA's rates hand

A surprise slide in consumer spending has thrown more uncertainty around the Reserve Bank's next move on interest rates.

AAP

Aussie shares dip as inflation rains on rate cut parade

Hotter-than-expected price growth has battered market expectations for interest rate cuts, prompting a broad sell-off as investors recalibrate expectations.

AAP

Climate clash: coalition divide over targets laid bare

Divisions over how to tackle Australia's climate targets have continued to deepen within the coalition as its conservative members push for a rethink.

AAP

Better times ahead for economy, despite global woes

A major business forecaster is optimistic the pace of economic growth in Australia will accelerate over the next few years and overcome recent hurdles.

AAP

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'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

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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AAP

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.

The Canberra Times

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

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

AAP

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.

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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.

The Guardian - AU

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

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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