Petrol to challenge $1 a litre again

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Weekly Petrol Prices Fuel prices: According to the Australian Institute of Petroleum, the national average price of unleaded petrol fell by 5.5 cents last week to 124.2 cents a litre. Fuel Policy: The Federal Government has announced a $211 million investment in building new domestic fuel storage. Overseas travel: In August there were 60,860 overseas

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Petrol prices hit 6-month high; Job ads lift and ATM withdrawals hit 20-year lows

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Weekly Petrol Prices; Job advertisements; Credit/debit cards; Services activity Fuel prices: According to the Australian Institute of Petroleum, the national average price of unleaded petrol rose by 7.2 cents last week – the most in 12 weeks – to 6-month highs of 129.7 cents a litre. East Coast petrol prices: Average daily unleaded retail petrol prices

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Investment down, but not as bad as feared

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Business investment Business investment: New business investment (spending on buildings and equipment) fell by 5.9 per cent in the June quarter to be down by 11.5 per cent over the year. Economists had tipped an 8.2 per cent fall in the quarter. In 2019/20, real investment totalled $111.4 billion, down by 6.5 per cent on

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Double-digit regional unemployment rates

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Detailed labour force estimates; Chinese data Highest jobless rates: Mandurah in Western Australia had the highest jobless rate across Australia in July at 18 per cent. Unemployment rates are also high in Wide Bay, Queensland (17 per cent), Melbourne’s North-West (12.6 per cent) and Coffs Harbour-Grafton, NSW (11.6 per cent). Queensland has the highest unemployment

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Petrol prices ease to 2-month lows

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Weekly Petrol Prices: July travel data Petrol prices: According to the Australian Institute of Petroleum, the national average price of unleaded petrol fell by 4.8 cents to 117.8 cents a litre last week. Annual comparison: For this time of the year (mid-August), petrol prices are the cheapest in four years. Overseas travel; There were 18,300

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Retail spending up 8.5 per cent over the year

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Retail trade Retail trade: Retail trade rose by 2.7 per cent in June (consensus: +2.4 per cent) after rising by 16.9 per cent in May. Retail trade is up 8.5 per cent over the year. In real (inflation-adjusted) terms, retail trade fell by 3.4 per cent in the June quarter (consensus: -3 per cent) after

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CommSec State of the States – July 2020

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Overall Results How are Australia’s states and territories performing? Each quarter CommSec attempts to find out by analysing eight key indicators: economic growth; retail spending; equipment investment; unemployment; construction work done; population growth; housing finance and dwelling commencements Just as the Reserve Bank uses long-term averages to determine the level of ‘normal’ interest rates; we

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COVID-19: Stimulus and re-opening of the economy

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Economic trends CommSec has regularly provided updates of the stimulus measures provided by Federal, State and Territory governments to support businesses and individuals deal with the consequences of the COVID-19 coronavirus (April 20, May 7, May 25 and June 18). CommSec has also highlighted the plans outlined by the State and Territory governments to re-open

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China economy: Coronavirus comeback kid

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Chinese economic data Chinese economic growth: The Chinese economy (GDP) expanded by 11.5 per cent in the June quarter (consensus: +9.6 per cent) after a 10 per cent contraction in the March quarter. GDP grew at a 3.2 per cent annual rate in the year to June (consensus: +2.4 per cent), following a 6.8 per

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Sydney petrol prices surge; Home sales rebound

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Weekly Petrol Prices; Tourism; Credit/debit cards; Home sales; COVID-19 survey Petrol prices: According to the Australian Institute of Petroleum, the national average price of unleaded petrol fell by 0.1 cent to 119.3 cents a litre last week. Sydney’s unleaded pump prices are averaging $1.16 a litre today, up by 7 cents a litre from the

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