Stephen Walters, Chief Economist

AICD Chief Economist Stephen Walters discusses the economic news and issues that are affecting Australian boards.

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A dog’s breakfast of a jobs report for March

The Australian Bureau of Statistics today released the March jobs report. Embedded in the statistics was a timely lesson on the perils of reading too much into the month-to-month movements in the seas...

Weekly Updates

Each Monday, Stephen Walters provides an update on the economic week that was, and the week that will be. You can follow Stephen’s updates here.

Finally, some good news on retail spending

Finally, we have some positive news on Australian consumers! National retail turnover rose 0.6%m/m in February, double what economists had expected.

Employment up for 17th straight month

The Australian Bureau of Statistics today released the official employment data for February. The outcome was a mixed bag, with aggregate employment rising for the 17th straight month – a record...

Rate of economic growth still subpar

The December quarter National Accounts, released this morning, revealed that Australia’s economy continues to expand, albeit still at a subpar rate. GDP in real terms grew 0.4%q/q, slightly belo...

RBA holding the line on upbeat outlook

The Board of Reserve Bank of Australia (RBA) today announced an “unchanged” cash rate for the seventeenth straight meeting, matching the record stretch of policy inactivity set way back in...

Firms upgrading investment plan

The Australian Bureau of Statistics today released the latest survey of firm’s plans for investment spending for the period ending June 2019.

Another month…another big jobs gain

Today the Australian Bureau of Statistics released another jobs report that significantly beat economists’ expectations. Employment rose nearly 35,000 places in net terms last month, more than d...

Retail sales surprise: strongest in five years

Nationwide retail spending unexpectedly bounced in the month of November. Economists had expected soft(ish) growth only 0.4% over the month, following the 0.5% rise in October.

Aussie economy sustained momentum in Q3

The Australian Bureau of  Statistics today released the National Accounts, 92 pages of detailed statistics on the performance of Australia’s economy.
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