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Sales of new electric cars surged by 59 per cent in 2020, according to data released by the Australian Bureau of Statistics (ABS).
The federal government body has revealed a total of 20,095 electric cars were registered in 2020, compared with 12,651 in 2019.
While the data includes plug-in hybrid (PHEV) and fully-electric vehicles, it provides the most accurate snapshot into this segment, as market leader Tesla withholds its sales data from the industry s monthly VFACTS reports.
However, figures obtained exclusively by
Drive in January 2021 showed Tesla sold 3430 vehicles over the 2020 calendar year.
Australian Tesla tracking outlet VedaPrime recently reported the electric car company has brought in roughly 4200 examples of the Model 3 into the country in 2021 alone – already 40 per cent more than were imported in all of 2020.
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On 27 May 2021, Victoria entered a state-wide lockdown. Restrictions eased in regional areas on 3 June and in metropolitan Melbourne on 10 June 2021.
Payroll jobs and wages data during June and July reflect a greater variation in business reporting, around the end of the financial year. This may result in a higher level of variation in payroll jobs and wages estimates and revisions over this period.
The ABS acknowledges the continued support from the Australian Taxation Office in enabling the ABS to produce weekly insights into the Australian labour market.
/ABS Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.
Australia s interest rates remain at record-low 0.10 per cent
Australia s official interest rate will remain on hold at the historic low level of 0.10 per cent, but a rise might be on the financial horizon.
The country s top economists of the Reserve Bank of Australia met this afternoon, deciding to hold rates steady for the month of July.
The central bank slashed interest rates to 0.10 per cent in November 2020 as a way of easing the potential economic pain wrought by the COVID-19 pandemic.
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The cuts seemed to have worked.
According to the Australian Bureau of Statistics (ABS), Australia s economy is officially above pre-pandemic levels as surging levels of construction and business investment lift the nation s bottom line.
Clothing retail down, footwear and accessories up in May
By Imogen Bailey | 6 July 2021
The clothing, footwear and personal accessories retail category remained relatively unchanged (0.0%) in May, according to new figures from the Australian Bureau of Statistics (ABS).
However, by industry subgroup, the ABS reports that clothing retailing fell 0.4% (-$7.3 million) in May, while footwear and other personal accessory retailing rose 0.8% ($6.6 million) in the month.
Meanwhile, department stores declined 0.7% (-$11.3 million) in May.
When compared to May 2020, retail turnover rose 7.7% in May 2021.
National Retail Association (NRA) CEO Dominque Lamb said that while the figures are encouraging, the recent lockdowns are likely to have a significant impact on the upcoming retail results.
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RBA delivers new financial year rate decision By Malavika Santhebennur 06 July 2021
The RBA has announced its decision for the official cash rate for July, as well as changes to strategies around its government bond-buying program.
The Reserve Bank of Australia (RBA) has held the official cash rate at the current record low of 0.10 per cent, amid speculation of rate rises earlier than outlined by the RBA.
However, the RBA has not changed its stance on possible rate rises before 2024, with RBA governor Philip Lowe saying in his statement on the monetary policy decision: “The board remains committed to maintaining highly supportive monetary conditions to support a return to full employment in Australia and inflation consistent with the target.