Tag: avoid

Credit card usage falls sharply

Credit card usage falls sharply

The British Retail Consortium (BRC) has today reported a fall in credit card usage as consumers look to cash and debit cards for their purchases. According to a survey by the BRC, which represents 90% of the UK’s stores, shoppers are opting to use their debit cards and cash to avoid borrowing. However, the number [...]

June 27, 2011 | 0 Comments More
Australia’s jobless rate falls to 4.9%

Australia’s jobless rate falls to 4.9%

Figures today revealed Australia’s unemployment rate fell to 4.9% in March - the lowest level since December 2008. The drop comes despite the recent flooding and cyclones which has affected farming and mining and is likely to impact negatively on economic growth. According to the Australian Bureau of Statistics, the economy created 37,800 jobs in [...]

April 7, 2011 | 0 Comments More
New Zealand business sentiment down following earthquake

New Zealand business sentiment down following earthquake

According to the New Zealand Institute of Economic Research (NZIER), business sentiment fell between January and March, following the 6.3 magnitude earthquake which hit Christchurch on 22 February. A net 11% of companies surveyed said they were pessimistic about the general business situation in the three month period. This compares with a net 1% showing [...]

April 5, 2011 | 0 Comments More
Australian dollar rises to 29-year high against US dollar

Australian dollar rises to 29-year high against US dollar

The Australian dollar has hit a 29-year high against the US dollar to $1.0318 - a level not seen since it was floated in 1983. Analysts have attributed the rise to increasing demand for the country’s commodities. Australia has benefited from an increase in commodity prices, while exports have received a boost due to demand [...]

March 30, 2011 | 0 Comments More
New Zealand economy sees Q4 growth, avoids recession

New Zealand economy sees Q4 growth, avoids recession

Statistics New Zealand has today revealed the economy avoided recession after growing by 0.2% in the October to December period. The fourth quarter growth follows a contraction of 0.2% in the third quarter and takes the annual rate of growth to 1.5%. Two consecutive quarters of negative growth would have pushed the economy into another [...]

March 24, 2011 | 0 Comments More
China moves to cool property prices

China moves to cool property prices

China‘s property prices have remained stubbornly high despite several Government initiatives to avoid a property bubble. The Government recently announced plans to introduce a property tax. Shanghai Mayor Han Zheng said it is preparing for the “trial reform on property tax as required by the central Government”. It has also made it more expensive to [...]

March 9, 2011 | 0 Comments More
Australian economy grows 0.7% in Q4

Australian economy grows 0.7% in Q4

The Australian Bureau of Statistics (ABS) has today reported the economy grew by 0.7% in the October to December period, boosted by private spending on machinery and equipment, and inventories. However, the figure was slightly lower than the 0.8% growth expected by analysts. According to the ABS, the quarter-on-quarter figure was up from a revised [...]

March 2, 2011 | 0 Comments More
Australia could see contraction in Q1

Australia could see contraction in Q1

Australia, which is one of the few developed economies not to have fallen into recession like its counterparts throughout the world, could see its economy contract in the January to March period. The warning came from Treasurer Wayne Swan after the country has been hit by flood and cyclone disasters, which has led to a [...]

February 8, 2011 | 0 Comments More
Chinese  house prices continue to edge higher

Chinese house prices continue to edge higher

China’s property prices rose for the fourth consecutive month in December, albeit at a slower pace. According to the National Bureau of Statistics, prices rose 0.3% in December, taking the annual rate to 6.4% - although this is half of the peak reached in April 2010 - when prices surged 12.8%. However, prices have remained [...]

January 17, 2011 | 0 Comments More
Scottish manufacturers see strong rise in production

Scottish manufacturers see strong rise in production

Official figures revealed Scotland’s manufacturing sector grew in November at its fastest rate since August. The rise was attributed to a strong rise in new export orders for Scottish manufacturers, the Bank of Scotland’s Purchasing Managers’ Index (PMI) revealed today, boosted by demand from China and the US. The Bank of Scotland’s chief economist, Donald [...]

December 13, 2010 | 0 Comments More
Australia leaves interest rates on hold

Australia leaves interest rates on hold

The Reserve Bank of Australia (RBA) has today elected to keep interest rates on hold at 4.75% - a move which was widely expected. Australia was the first economy to raise rates from a 50-year low as the economic downturn eased. Other major economies opted for lower interest rates to boost their economies. The country [...]

December 7, 2010 | 0 Comments More
Australian economic growth slows significantly in Q3

Australian economic growth slows significantly in Q3

The Australian economy, which is one of the few developed economies not to have fallen into recession like its counterparts throughout the world, has today reported a slowing in growth for the third quarter as the rise in the dollar hit export earnings and consumers were hit by higher interest rates. Official figures revealed the [...]

December 1, 2010 | 0 Comments More
Australia continues to put brakes on rate hikes

Australia continues to put brakes on rate hikes

The Reserve Bank of Australia (RBA) has again elected to leave interest rates on hold at 4.5%. It is the fifth consecutive month in which rates have been at this level and economists had expected rates to rise to 4.75% this month. However, it is still expected that the central bank will only leave rates [...]

October 6, 2010 | 0 Comments More
Romania’s entry into euro zone may be delayed

Romania’s entry into euro zone may be delayed

Romania’s President, Traian Basescu, has today said its entry date for the euro zone may be delayed as it introduces tough austerity measures in order to avoid a Greek-style debt crisis. The country’s current target date for euro zone entry is 1 January 2015 but Mr Basescu said this could be postponed by “one or [...]

September 22, 2010 | 0 Comments More
US housing starts jump, building permits up

US housing starts jump, building permits up

There was some good news from the US housing market today after the Commerce Department revealed housing starts jumped in August to a four-month high. According to the Commerce Department, construction of new US homes rose 10.5% last month to a seasonally adjusted annual rate of 598,000 units - beating analysts expectations of 550,000. In [...]

September 21, 2010 | 0 Comments More
Australia unemployment rate rises to 5.3% in July

Australia unemployment rate rises to 5.3% in July

Figures today revealed Australia’s unemployment rate rose unexpectedly to 5.3% in July from 5.1% in June. According to the Australian Bureau of Statistics, 24,600 more people were out of work surprising analysts who had expected no change. However, experts said the surprise rise may partly be due to revised population figures, which showed there were [...]

August 12, 2010 | 0 Comments More
Australia continues to put brakes on rate hikes

Australia continues to put brakes on rate hikes

The Reserve Bank of Australia (RBA) has again elected to leave interest rates on hold at 4.5% after a series of aggressive rate hikes since October. It is the third consecutive month in which rates have been at this level but economists say the central bank will only leave rates on hold for the short-term. [...]

August 3, 2010 | 0 Comments More
Australia revises growth forecast downwards

Australia revises growth forecast downwards

Australia has today revised its annual growth forecast from 3.25% to 3% due to uncertainty surrounding the global economic recovery. Australia is one of the few developed economies not to have fallen into recession like its counterparts throughout the world as it has benefited from an increase in commodity prices, while exports have received a [...]

July 14, 2010 | 0 Comments More
Australia unemployment rate steady at 5.1%

Australia unemployment rate steady at 5.1%

Figures today revealed Australia’s jobs market remains strong after employment hit a record high of 11.1 million people at work. According to the Australian Bureau of Statistics, the economy created almost 46,000 jobs last month - smashing analysts forecasts of 15,000. The latest figures means the unemployment rate held steady at 5.1%. Westpac Bank expects [...]

July 8, 2010 | 0 Comments More
Australian consumer confidence takes another dive

Australian consumer confidence takes another dive

A survey by Westpac bank and the Melbourne Institute has revealed that Australian consumer confidence took another dive in June. The study, which questioned 1,200 people, found that consumer morale in June fell by 5.7% to a reading of 101.9 and followed a 7% drop in May. The fall was attributed to global economic worries [...]

June 9, 2010 | 0 Comments More