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The post Macro Afternoon: 19 September 2025 appeared first on MacroBusiness.

On Thursday, Stats NZ released the Q2 national accounts, which revealed a sharper-than-expected decline in real GDP. New Zealand’s GDP declined 0.9% in the June 2025 quarter and was down 1.1% year over year. For the third consecutive quarter, annual GDP fell. The following chart from Justin Fabo from Antipodean Macro shows that New Zealand’s

The post Reserve Bank poised to slash rates appeared first on MacroBusiness.

With the release of the latest national accounts data showing that household consumption had grown by 0.9% in inflation-adjusted terms and the ABS Household Spending Indicator showing spending up by 0.5% MoM in July and up 5.1% YoY, some are questioning whether rate cuts are working. Before we get into the numbers detailing how rate

The post Are rate cuts working? appeared first on MacroBusiness.

Luke Yeaman, Chief Economist at CBA, penned a report on the Australian federal budget, which “is projected to return to deficit over the next decade”. While “tax receipts are strong”, Yeaman notes that “structural spending has lifted to levels rarely seen in Australia outside of major economic shocks”. While spending pressures are evident across most

The post NDIS cripples federal budget appeared first on MacroBusiness.

The climate change pantomime has taken an interesting new twist, with low-lying Pacific Nations lambasting Australia over its approval of Woodside’s North West Shelf gas project extension. Anote Tong, who led the small Pacific nation of Kiribati between 2003 and 2016 accused Labor of putting economic interest before the security of important allies in the

The post Why won’t Pacific nations lambast China on climate? appeared first on MacroBusiness.

Teal independents continue to run interference for Big Australia mass immigration. In 2022, Zali Steggal, a Teal member from Warringah (which includes Sydney’s rich northern beaches), supported a large increase in immigration to combat labour shortages. In 2024, Steggal called for a 75% 2030 emissions reduction target for Australia, ignoring the fact that aggressively growing

Bloomberg loves a party line. Australian unemployment held steady last month even as the economy shed jobs with fewer people looking for work, signaling the labor market remains tight and reinforcing the Reserve Bank’s cautious approach to policy easing. There is nothing tight about the Aussie labour market. Frankly, at 4.2% unemployment, it is intrinsically

The post Indian Albo’s labour market loose as a goose appeared first on MacroBusiness.

For a long time, Middle America has found itself struggling at an aggregate level. While there have been some on-paper standouts when breaking down household outcome growth by geographical location, that has been balanced out by other locales seeing significantly weaker growth than the average. Today, the median American full-time male worker earns as much

The post Trump’s America loses hope appeared first on MacroBusiness.

On Thursday, Prime Minister Anthony Albanese unveiled Labor’s long-awaited 2035 climate targets, which promise to reduce emissions by more than 62% and up to 70%. The promise expands on Australia’s existing 2030 target to reduce emissions by 43% from 2005 levels. The Paris Agreement, reached a decade ago, requires nations to lift their carbon reduction

The post Australia sacrifices self on climate altar appeared first on MacroBusiness.

Below is another excellent guest post from MB reader Erin Rolandsen, CEO of Angelassist: Cybernetics pioneer Stafford Beer once said: “The purpose of a system is what it does.” If that is true, what, then, do we make of Australia’s systems? Everywhere we look, the systems designed to solve problems instead perpetuate them. We have

The post Our Systems Work Exactly as Designed—Just Not For Us appeared first on MacroBusiness.

This year marks the 80th anniversary of the signing of the UN Charter. During these eight decades, much has been accomplished that calls for celebration. Yet, there is no denying that the United Nations is facing perhaps the greatest crisis of its 80-year history.

Joseph Camilleri

Ukrainian leader Vladimir Zelensky has no intention of ending the hostilities with Russia, while ordinary people pay the price, Verkhovna Rada MP Georgy Mazurashu has said.

Mazurashu said Zelensky outlined his position at a meeting with members of his Servant of the People party on Tuesday, a stance the MP claimed is widely shared by the Ukrainian leader’s inner circle.

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