Calvin He

The Australian economy remained sluggish in the September quarter according to figures from the Australian Bureau of Statistics released on Dec 4.

As smoke still rises from New South Wales bushfires, the climate change debate continues to be fanned by the Federal Government as it pushes to repeal the carbon tax and hold steady on an emissions target.

Australia’s emissions reduction requirements may be smaller than initially anticipated according to new research. The news comes as the newly-elected Government moves to repeal the Carbon Tax legislation and introduce the Coalition’s Direct Action Plan. However, concerns regarding future carbon emissions still remain.

The unemployment rate unexpectedly improved last month to 5.6 per cent, down from 5.8 per cent, according to the Australian Bureau of Statistics September data.

The Reserve Bank of Australia has left the cash rate steady at 2.5 per cent.

The biggest drag on the economy was the 4.4 per cent deterioration of public spending—including a sharp 18.8 per cent fall in public investment.

The unemployment rate fell to 5.1 per cent, a 0.1 per cent drop, in August, according to the Australian Bureau of Statistics (ABS) Labor figures released recently.

Australian households have posted strong retail spending in June.