Weekly Digest – 01 May 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Australia’s economy ‘turned out stronger’ than expected

AMP Chief Economist Shane Oliver says Australia’s economy has “turned out stronger” than expected. Annual inflation dipped to 3.6 per cent in the year to March.  It is down from 4.1 per cent in the 12 months to December. Economists say the result exceeded market expectations.

Scaling into the US: Learnings for Aussie and Kiwi startups

How does an Aussie or Kiwi startup make a breakthrough in the US? In this article, Lucy Tan lays out a way for founders to frame those initial decisions.

Construction supply chain startup Matrak raises $2.9m as China beckons

Melbourne-based startup Matrak, a company that is streamlining supply chains for the construction sector, has raised $2.9 million in a Series A round that the company says will help establish a presence close to the industry’s manufacturing base in China.

Dire interest rate prediction as households suffer squeeze

Just over a week before the Reserve Bank meets for its next interest rates decision, one economist has predicted further increases are in store. Judo Bank chief economic adviser Warren Hogan said he predicted the strengthening economy would trigger more rises, in what would be a devastating blow to mortgage holders around the country

The global economy is fragmenting. What can Australia do about it?

Prime Minister Anthony Albanese made an important speech two weeks ago. He said “strategic competition” had become a fact of life. He warned major advanced economies were pouring trillions of dollars into their industrial bases and manufacturing capability, and many nations were drawing explicit links between their economic security and national security. Will the new global order present advantages for Australia?

‘Rise’ in unemployment expected as Australia’s economy slows

S&P Global Ratings’ Anthony Walker says as the economy slows, there will be a “rise” in unemployment. Mr Walker told Sky News Australia that the government’s tax take will “start to weaken”.

Surprise state declared Australia’s best performing economy

South Australia’s economy has once again been declared the best performing in the country as it topped four of eight key indicators in a new report comparing the states.

Productivity is a ‘big issue’ for the economy going forward

S&P Global Ratings’ Anthony Walker says productivity is a “big issue” for the economy going forward. The looming federal budget will need to strike the right balance between providing cost of living relief and not loading up Australian consumers and businesses with too much extra cash.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.