News Articles for Australian Bureau of Statistics

Australia posted the biggest monthly trade surplus in history on the back of record iron ore exports, as the economy continued to rack up new markers in its rebound from last year's deep recession.

Growth in Western Australia's internal economy was slower than most other states in the December quarter, while national output grew 3.1 per cent.

The Australian economy grew by 3.1 per cent in the December quarter, continuing the strong rebound from last year's recession.

Wages grew at a fractionally faster pace than expected in the final three months of 2020, lagging expectations for record property price increases this year.

Australian exports dropped 9 per cent in January, led by a fall in iron ore shipments after a strong result the previous month.

Relatively high confidence among shoppers and the continued drop in the unemployment rate saw modest retail spending growth in the first few weeks of 2021.

Prime Minister Scott Morrison has raised hopes international borders could reopen once coronavirus vaccinations have been widely delivered.

Employment has recovered to where it was a year ago, continuing a marked rebound from last year's recession caused by the COVID-19 pandemic.

A 9 per cent rise in sales to China helped Western Australia hit a record $186 billion of merchandise exports in 2020.

Prices in Perth deflated 1 per cent in the December quarter, thanks to the government's electricity credit, but there's an underlying upward pressure.

The diplomatic row between Australian and China rolls on, but new figures show trade between the two countries has not been totally throttled by the war of words.

Job numbers in WA were steady in December, but unemployment fell 0.2 percentage points to be 6.2 per cent.

Australia's recovery from recession is putting many businesses in a better position to pay their bills and hire more staff.

WA's retail spending was up by more than 16 per cent in the year to November 2020, outperforming all other states.

Household spending rocketed up 11.7 per cent in WA in the September quarter, while national GDP grew 3.3 per cent.

Former Reserve Bank of Australia governor Glenn Stevens once told parliamentarians that the Australian business community was lacking the "animal spirits" that were needed to drive economic growth.

Australian iron ore exports reached a record high of $10.9 billion in October, most of which was destined for China.

Retail sales rose by 1.6 per cent in October, helped by shops being allowed to trade again in Victoria after coronavirus restrictions were eased.

West Aussies had a huge boost in purchasing power in the year to June, and the state's economy grew despite a small national drop.

More Western Australians are employed than at any time since March, with 15,300 jobs created in October as the state recovers from the COVID-19 crash.

Wages growth in WA maintained parity with the rest of the nation in the year to September, masking an otherwise anemic result for the state.

Australia is building the largest houses and apartments in the world, according to the latest data from the CommSec Home Size Trends Report.

The number of loans for home construction nationwide set a new record during September, according to the latest Australian Bureau of Statistics data.

Banks will pass on as much relief to customers as they can should the Reserve Bank board cut its key interest rates on Tuesday, the peak industry body says.

Perth prices rose 1.8 per cent in the September quarter, the sharpest lift since June 2006, after a big fall during the COVID-19 shutdown.

Scott Morrison agrees with the Reserve Bank that the economic recovery from the COVID-19 recession is under way.

The recent buoyancy of consumer confidence has yet to be reflected in retail spending, which is down 1.5 per cent in September.

More than one in five Australian families are jobless, as the coronavirus pandemic slugs the economy.

Home buyers took advantage of a virus-flattened housing market in August, as borrowing rose by 12.6 per cent on the previous month.

Reserve Bank officials have left the cash rate unchanged at a record low 0.25 per cent, allowing Treasurer Josh Frydenberg's federal budget to have the economic limelight.

A $644 million package to credit electricity bills is a smart move to encourage spending, economists say, while recent retail trade data is strong for WA.

Western Australia's job vacancies hit an eight-year high after soaring 91 per cent in recent months, as the state rebounds from COVID-induced restrictions.

Demand for new houses remained strong in August, particularly in Western Australia, following the relaxation of COVID-19 restrictions in most jurisdictions.

Retail spending fell across the nation in August, with Victoria recording a massive 12.6 per cent drop as the state's COVID-19 restrictions hit non-essential retail businesses.

Total wages for men have fallen about 17 times more than wages for women in Western Australia since March, despite a higher rate of female unemployment.

Mineral exploration in Western Australia has reached a five-year high since the approvals process for applications was halved two months ago, with the surge dominated by gold projects.

More than 32,000 Western Australians found jobs in August, and the unemployment rate plunged 1.3 percentage points, as the nation posted a big improvement.

Incentives for businesses to invest and create jobs will be at the heart of the federal budget, a Morrison government minister says.

With the federal government withdrawing its relief for the childcare sector, a new report argues increasing funding could bolster Australia's economic recovery.

WA's domestic economy contracted 6 per cent in the June quarter, slightly better than national figures showing Australia is in recession.