In Australian economic news, the Federal Government released its latest periodic Intergenerational Report. This document and forecasts looks at long term trends in the economy.
In Australian economic news, unemployment rose in July, by 0. 2 percentage points, to 3.7 per cent. This was said to be because the number of people in work fell by 14,600, and unemployment increased by 35,600.
In Australian economic news, wages growth unexpectedly slowed in June quarter to 0.8 per cent (3.6 per cent annually), from 0.9 per cent (3.7 per cent annually) in March quarter.
In Australian news, new data show that retail sales have now contracted for three consecutive quarters. Spending fell by 0.5 per cent in the June quarter. Within this, there was said to have been reduced consumption of services for the first time, as well as less spending on discretionary goods.
The Reserve Bank of Australia left the official policy rate unchanged at its meeting on Tuesday, for the second consecutive month. It noted again that the full impact of the 4 percentage points of increase in interest rates thus far is still feeding through, and it will take time and more data to assess the extent that more tightening is required.
In Australian economic news, data show that unemployment held steady at the near record low of 3.5 per cent in June, despite the recent slowdown in consumer spending.
Morse Micro has earned a position on EE Times’ renowned annual Silicon 100 list of “Startups Worth Watching in 2023.” This list comprises global semiconductor technologies making significant strides in the industry.
