Food sales drive SA retail spending recovery

An increase in spending on food in South Australia across supermarkets, restaurants and takeaway outlets helped retail spending in the state bounce back slightly in April after dipping to its lowest level in 12 months in March, according to latest figures.

RBA maps way forward from latest economic data

Reserve Bank governor Philip Lowe will share his views on what last week’s national accounts figures mean for Australia’s economic recovery from the coronavirus pandemic when he returns to the lectern today.

Guy Debelle: "So it is plausible that the worst is behind us but the recovery from here is potentially more of a slow grind." Photo: AAP/Dean Lewins

Economic worst could be over, says RBA deputy

Deputy Reserve Bank governor Guy Debelle has indicated lower interest rates are possible in Australia without going negative, but he says the economic downturn could be past its worst.

Chinese investment in Australia plummets

Chinese investment in Australia has fallen by almost 60 per cent as Beijing shifts its focus towards developing nations that have signed up for its Belt and Road Initiative.

Frydenberg expecting significant jobless rise

Treasurer Josh Frydenberg has warned Australians to expect a significant rise in the unemployment rate alongside a big reduction in the rate of economic growth as a result of the coronavirus crisis.