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Economics

Midday market wrap: $A weaker at noon as market drifts without US impetus

AAP  |  FRIDAY, 28 NOV 2003
The Australian dollar was weaker at noon, caught in a tight range without impetus from the holidaying US market.

Economic recovery on track: OECD chief economist

The Organisation of Economic Cooperation and Development (OECD) chief economist Jean-Philippe Cotis has said that a palpable recovery has finally taken hold across the OECD.

First home buyers housing affordability falls to record low

AAP  |  THURSDAY, 27 NOV 2003
Housing affordability for first home buyers fell to a record low for the second quarter running, dropping by 9.4 per cent in the September quarter, according to the Commonwealth Bank/HIA Housing Report.

Business investment likely to keep rising: ABS

AAP  |  THURSDAY, 27 NOV 2003
Business investment was likely to keep rising in 2003/04, new figures showed today.

Greater fiscal discipline needed: OECD

The Australian government should maintain its fiscal objective of keeping the budget balanced over the economic cycle and allow fiscal policy to play a stabilisation role through the operation of the automatic stabilisers, according to a report from ...

RBA must take account of drought, $A on rates: deputy PM

AAP  |  THURSDAY, 27 NOV 2003
The Reserve Bank of Australia will have to take into account the drought and the exchange rate when it next considers interest rates, according to Deputy Prime Minister John Anderson.

Construction activity dips in the third quarter, but still at record highs: NAB

The National Bank of Australia (NAB) has said that construction activity had fallen by 0.8 per cent in the third quarter, making this the second consecutive fall.

Building work done in September quarter rises 0.7 per cent: ABS

AAP  |  WEDNESDAY, 26 NOV 2003
The value of building work done in the three months to September recovered 0.7 per cent, new figures showed today, after falling for the first time in two years the previous quarter.

Drought slashed grain/sheep numbers: ABS

AAP  |  WEDNESDAY, 26 NOV 2003
The drought slashed grain production more than 50 per cent and forced sheep numbers to their lowest level in 50 years, the Australian Bureau of Statistics said today.

Government to review aspects of income tax self-assessment: Costello

Federal Treasurer Peter Costello has announced a Government decision to review aspects of the income tax self-assessment system.