Cost conscious shoppers shunned Christmas and Boxing Day sales in December in a further sign that the economy is cooling under the impact of elevated interest rates. Retail spending plunged 2.7 per cent in December, the Australian Bureau of Statistics said on Tuesday, falling further than economists’ forecasts for aContinue Reading
Demand for new workers has cooled for the fifth quarter in a row, according to the latest Australian Bureau of Statistics (ABS) jobs vacancy data. The report, released Thursday, covers the three months to August, and shows there were 390,000 job vacancies in that quarter — down 38,000 from May.Continue Reading
The country might be in the grip of a cost of living crisis, but Aussies are refusing to give up their favourite fast food treats. Earlier this year, Collins Foods – the largest operator of KFC franchises in Australia – posted a record $1 billion in full-year sales. Revenue grewContinue Reading
Aussies splurged an extra $68m on hospitality amid the Matildas’ meteoric rise and World Cup mania gripping the nation, new figures reveal. Despite consumers facing a cost-of-living crunch, shoppers shunned the supermarket checkout and instead headed out to pubs and clubs, ate out at cafes and restaurants, and ordered moreContinue Reading
Household spending has collapsed to levels not seen since the global financial crisis, as a double blow of runaway inflation and soaring interest rates hammers family budgets. Retail sales volumes, a measure of how much consumers bought, fell 0.5 per cent in the June quarter of 2023 to $35.2 billion,Continue Reading
Australians have turned off the tap on spending despite lowering inflation, with even mid-year sales not enough to boost retail turnover. Retail turnover fell 0.8 per cent in June 2023, according to figures released on Friday by the Australian Bureau of Statistics (ABS). The recent figures reversed a 0.8 perContinue Reading
The number of sexual assaults recorded by police went up three per cent over one year, with most victim-survivors who reported the crime being female, new statistics have revealed. Property crime, which includes burglaries, were up for the second year in a row, according to the Recorded Crime – VictimsContinue Reading
Australians are buying big at cafes and on takeaway food despite the cost of living pressures that have kept retail spending down. The Australian Bureau of Statistics on Friday revealed spending on food was up 13 per cent year on year, despite a modest drop off in the last month.Continue Reading
Retail trade was flat in February, rising just 0.2 per cent according to the latest figures from the Australian Bureau of Statistics (ABS), off the back of a 1.8 per cent rise in January. The Retail Trade report, released on Tuesday morning, shows an increase of 6.4 per cent whenContinue Reading
Australian consumer spending cooled during the Christmas period, bringing down the volume of retail sales for the first time in 11 months. Retail trade fell 3.9 per cent in December, suggesting that runaway inflation and rising interest rates have started to take a toll on purchasing power. The annual inflationContinue Reading