Tag: business investment
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State’s economy may be slowing but wage increases, business investment still shine
The decline in the June quarter was caused by declines in housing, consumer and trade components which were largely the same in all states. However ANZ pointed out that the ABS national accounts data highlighted Queensland’s strength over the past year with growth well above the national average buoyed by Government spending. It said business…
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Not so fast: Analysts say Reserve Bank risks recession we didn’t have to have
A weaker outlook for Australia and the global economy has prompted Deloitte Access Economics to revise its forecast down for business investment in 2023. Generous government incentives have supported investment during the Covid-19 years but business confidence has fallen amid rising costs and falling demand. The Reserve Bank is expected to increase the cash rate…
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Investment outlook darkens amid threat of further rate rises
A weaker outlook for Australia and the global economy has prompted Deloitte Access Economics to revise down its forecast for business investment in 2023. Generous government incentives have supported investment during the pandemic years but business confidence has fallen amid rising costs and falling demand. The Reserve Bank is expected to increase the cash rate but the…
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Wage increases, more jobs are coming but so is an interest rate hike
The bank said economic growth this year would reach 5 per cent, a significant increase on previous forecasts of 4.2 per cent. “The unemployment rate is expected to drop sharply to 4.8 per cent by the fourth quarter this year, then fall more gradually to 4.4 per cent by end-2022 and 4.2 per cent by…
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Politics of pandemic hits state’s business investment
The Chamber of Commerce and Industry Queensland said the sudden drop in capital expenditure in the Australian Bureau of Investment data followed the first business closures in Australia without stimulus support during the most recent lockdowns in Greater Brisbane. “There are few businesses in Queensland that are in a position to invest in new capital…
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The $70 billion question for Queensland business: Will they invest, or won’t they?
It follows a significant downturn in the March quarter but there was now $42 billion worth of projects under construction in Queensland. Another $10 billion had been committed and there was $70 billion under consideration. And there may not be a more favourable time to take the plunge. The ANZ said in a separate report…
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Lowe pleads for high spending and wages from big business
He also had bad news for wage earners when he warned that wage growth was still too low and it could be as long as three years before it returned to an acceptable level. Wages growth is currently running at just 1.4 per cent, the lowest rate on record. Lowe said investment was one area…