ECONOMY

New research shows renewable energy is fast-becoming an alternative for Australian consumers.

The Reserve Bank of Australia’s (RBA) decision to pause for a rate hike in December was largely influenced by the prevailing financial troubles besetting the European continent, which it noted had markedly deterioarated.

Some quarters are out to make money by duping unsuspecting individuals and the competition watchdog is urging the Australian public to be on guard as holiday-induced scams proliferate at this time of the year.

Conditions are looking more positive for Australian businesses, despite stalling consumer spending, according to the latest Commonwealth Bank (ASX: CBA) Business Sales Indicator (BSI) released today.

During the ANZ annual general meeting, ANZ chairman John Morschel warned that in spite of its fast recovery, Australian economy will be highly sensitive to the debt struggles of Europe and US.

Victorian energy consumers sought out competitive market offers as prices of electricity and gas continued to hike in 2009-10, according to a report issued today by the State's energy regulator.

Consumers remain confident, but are likely to hold out on spending, the peak body representing Australia's leading retailers says.

The country’s consumer shopping mood grew steadily in December despite expected declines due to the Reserve Bank of Australia’s (RBA) decision in November to lift its policy rate.

Australians are keeping their hands on their pockets to shop less and save more, which mean that retailers could not expect windfalls even on the usual peak mode of the Christmas shopping season.

The Australian manufacturing industry appears to have fought off the uncertainty bug in the December quarter, assuming a more definite path as business activities, investments and profitability saw firm improvements in the period.

Nearly half of all Australians are not hopeful about the future of the economy a new report shows.

Any improvement in Australia's housing finance may be momentary as the impact of the latest rate rises flows through, economists have warned.

As most economists had predicted, the Reserve Bank of Australia (RBA) opted for a pause on the country’s rate movement and allowed the prevailing cash rate of 4.75 percent to roll over in December.

Retailers can breath a sigh of relief as the Reserve Bank of Australia kept official interest rates on hold today.

Prosperity may have been brought over by mining activities in Queensland and Western Australia but the attending decadence is also inevitable as the steady stream of thousands of workers fuelled boredom, alcoholism, prostitution and rising violence.

Wine production in Australia saw another decrease in fiscal 2010, according to figures released today by the Australian Bureau of Statistics (ABS).

Persistent weakness in new orders and activity kept the Australian construction industry in negative territory for the sixth consecutive month in November, new data show.

The first Australian Consumer Law (ACL) is expected to affect business owners, managers and sales staff starting January 1, 2011 when it gives consumers a new set of rights when availing of good or services.

Australia’s trade surplus breached the $2 billion median market forecast in October, which prompted economists to muse that the country’s expert sector would maintain its robust standing in the months to come.

Australian retail trade at current prices decreased by 1.1 per cent in October, seasonally adjusted, following a revised rise of 0.1 per cent the previous month, according to data released today by the Australian Bureau of Statistics.

Pressures over utility bills and other living costs outweighed concern about interest rates, despite widespread expectations of rate hikes throughout 2011, a new survey shows.

Australia's GDP rose 0.2 per cent in the third quarter and 2.7 per cent from the year-earlier period, the Australian Bureau of Statistics said today.

Australian manufacturing activity contracted in November due to the ongoing impact of the strong Australian dollar, rising interest rates and skill shortages, new data show.

ACT shift workers are now set to celebrate Christmas Day with their loved ones as the ACT government officially declared that December 25, which falls on a Saturday, is a public holiday.

Shoppers be warned as ‘fresh produce’ sitting on Australian supermarkets shelves could have been there for almost a year, with the consumer advocacy group Choice calling on consumers to be vigilant on their shopping trips.

Reserve Bank of Australia (RBA) governor Glenn Stevens confirmed that the Australian economy is facing the prospect of dealing with a rising national income, thanks to the resurging resources boom, yet he warned that the surplus run must be utilised to further shore up the savings account of the federal government.

Mixed economic indicators in the September quarter appear to deliver contrasting impacts on the upcoming gross domestic product (GDP) report this mid-week as rising government expenditures are expected to add up on the GDP figures while retreating export volumes are anticipated to detract some percentage points from the national account.

National current account deficit rose $2,417m to $7,830m in the September quarter 2010, new data from the Australian Bureau of Statistics (ABS) show.

New Zealand should now be able to resume apple exports for the first time since 1921 to its biggest trading partner after the World Trade Organization top court ruled on Monday that Australia's 89-year-old ban on imports of Kiwi apples are unscientific and break international trade rules.