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SYDNEY: Australian home prices motored ahead in July even as a coronavirus lockdown in Sydney curbed auctions, though stretched valuations could make affordability more of a drag in the longer term.
SYDNEY: S&P Global Ratings upgraded its outlook on Australia’s coveted “AAA” sovereign rating to ‘stable’ from ‘negative’ yesterday citing the country’s “swift economic recovery” from the Covid-19 pandemic-driven recession.
SYDNEY: Australia’s economy expanded faster than economists forecast in the first three months of the year, driven by the private sector as firms boosted investment and households tapped their pandemic savings war chest.
Australia's economy extended its rapid recovery in the first quarter as consumers and businesses spent with abandon, lifting output back above where it was last year when pandemic lockdowns tipped the country into recession.
SYDNEY: Australian retailers boasted yet another month of solid sales in March while a measure of business conditions surged to all-time highs in April in a sign the economy was coping well with the end of a government support programme for jobs.