Tag: Economy
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Eastern suburbs council cracks $2b in annual consumer spending
The City of Norwood Payneham & St Peters reached over $2 billion in annual consumer spending for the first time, according to Spendmapp data, which collects credit card and EFTPOS transactions. It revealed $2.08 billion in consumer spending for the 12-month period ending May 31, 2025. This comes after The City was named the lowest…
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SA jobless rate rises to 4.3 per cent
The South Australian unemployment rate rose to 4.3 per cent on a seasonally adjusted basis, above the national rate of 4.1 per cent, which was steady in May. The SA jobless rate was up 0.4 percentage points in May – the second largest rise nationally after the Australian Capital Territory’s 0.5 percentage point rise. SA…
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Asian food festival breaks Rundle Mall visitation records
New Adelaide Economic Development Agency (AEDA) data found Rundle Mall has again broken visitor records, with the Colours of Asia festival attracting 681,478 people into the shopping strip between 21-24 March. This is 47 per cent higher than the Mall’s 12-month weekend foot traffic average and up on the previous record of 608,532 visitors, set…
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Global body slashes Australian economic growth forecast
Australia’s growth outlook has taken a severe cut in a dire assessment of the global economy by the International Monetary Fund. The United Nations financial agency said uncertainty has surged to unprecedented levels as a result of US President Donald Trump’s upheaval of global trade linkages, in its World Economic Outlook for April. Australia’s economic…
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Don’t panic: Tips for navigating volatile markets
With global markets rising and falling like a yo-yo recently, a certain element of panic hit the hearts of institutional and mum & dad investors alike. But it pays to take a step back, relax, and make smart decisions even though the temptation of panicking based on daily news and market movements might seem like…
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Booming hobby a treasure trove for collectable devotees
When it comes to collecting ’em all, Asif Mir is living his childhood dream. The 31-year-old from western Sydney has turned his passion into a booming career, amassing a collection of trading cards ranging from Pokémon to Dragon Ball Z, Star Wars and Power Rangers worth more than $1 million. As a young boy, Mr Mir remembers…
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Pulse check from Bank boss on Trump’s tariff whack
The Reserve Bank governor has sought to allay concerns following a week of economic tumult brought about by US President Donald Trump’s trade war. Addressing a women’s economic inclusion event, Michele Bullock conceded she hadn’t intended on speaking about the central bank’s policy imperatives, but needs must. “Inevitably, there will be a period of uncertainty…
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Truckloads of SA beer en route to Japan for World Expo
Attendees at World Expo 2025 Osaka will be able to enjoy a cold Coopers beer at Australia’s pavilion from 13 April. More than 750 cases are headed to the six-month-long World Expo, with the beer ordered to supply just the first three months of the event. Visitors to the pavilion will also be able to…
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No, that’s not what a trade deficit means
On April 2, United States President Donald Trump unveiled a sweeping new “reciprocal tariff” regime he says will level the playing field in global trade – by treating other countries the way (he claims) they treat the US. First, Trump’s plan will impose a “baseline” 10 per cent tariff on virtually all goods imported into…
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Inflation falls in line with expectations
The Reserve Bank’s efforts to curb inflation are heading in the right direction, with monthly inflation continuing downward, but it likely won’t be enough to force a rate cut next week. The monthly consumer price index fell 10 basis points to 2.4 per cent in the year to February, in line with expectations and after…