Business Update – 20 March 2024
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Cost of living relief coming, just not a big budget cash splash
Australians can expect some fresh cost of living relief in May when the federal budget is unveiled, but Treasurer Jim Chalmers has ruled out a big cash splash.
Business conditions improve in February
February saw an uptick in business conditions as the economy showed signs of sustained resilience at the start of the new year, NAB reported in its latest monthly business survey. Despite this, confidence and forward orders remain lagging.
Roy Morgan Business Confidence increased rapidly in February, up 8.3pts to 101.5 – the first positive result above 100 for over a year
In February 2024, Roy Morgan Business Confidence was 101.5 (up 8.3pts since January 2024). This was the third consecutive monthly increase in Business Confidence – and the first time the index has recorded a positive result above 100 for over a year since January 2023 (106.4).
Proof Australia is actually in a recession
Superannuation squeeze: the staggering amount you now need for retirement
The amount Aussies need to retire and fund their golden years has hit a new record high, as insurance, food and electricity costs weigh on retiree budgets.
Business leaders say rates, inflation could stay higher for longer
Market heavyweights say interest rates may stay higher for longer amid structural economic changes and a higher long-term inflation rate, as the global economy adjusts to a new normal.
Superannuation funds have quietly started paying retirement ‘bonuses’
Super funds are paying out millions of dollars in retirement “bonuses”. But what are they, and does your fund offer one?
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