A boom in jobs has pushed down Australia's unemployment rate and prompted economists to trim their interest rate outlook though some have cast doubt on the data.
Retail spending was up 10.5 per cent in Western Australia in July compared to the same month in 2021, but most states substantially outperformed the west.
There's hope that families and small businesses could soon get a reprieve from high petrol prices, with Commsec predicting a 19 cent per litre drop ahead.
The cash rate could be expected to rise over time to 2.5 per cent, RBA governor Philip Lowe has said, while the central bank forecasts inflation could get worse before it gets better.
Growth in Western Australia's domestic economy was the second lowest nationally in the June quarter, but state final demand was still 12 per cent larger than June quarter 2020.
While Western Australia has recorded solid growth in residential property values in recent months, it's still yet to catch up to its east coast counterparts.
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.
New figures show Australia looks set for solid economic growth in coming months, with unemployment falling further as jobs vacancies surged to an 18-month high.
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.
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.
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.
Retail trade rebounded a record 16.3 per cent in May, following a 17.7 per cent plunge in April, amid a gradual easing of coronavirus-related restrictions during the month.
