In economic news this week, the Business Council of Australia was said to be cautioning the Federal Government on the costs to the country of the policy changes it has made.
In Australian news this week, new data show that economic growth slowed to 0.2 per cent in the June quarter. The quarterly GDP reading brought annual growth to just 1 per cent – the weakest annual GDP result since the end of the early 1990s recession, outside of the coronavirus pandemic.
In Australian news this week, new monthly headline inflation data show that prices rose by 3.5 per cent in the 12 months to end-July, decelerating from 3.8 per cent in the year to end-June.
