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Australia's Economy Barely Grows in Q1 as Spending Drops

June 05, 2025

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The Straits Times

Australia's economy barely grew in the first quarter as consumers stayed stubbornly frugal and government spending, the engine of activity in 2024, sputtered to a standstill, underlining the need for more policy stimulus.

SYDNEY -

Real gross domestic product (GDP) rose 0.2 per cent quarter on quarter in the three months to March, Australian Bureau of Statistics (ABS) data showed on June 4, missing market forecasts of 0.4 per cent.

Year-on-year growth flatlined at 1.3 per cent, when analysts had looked for a pick-up to 1.5 per cent, and remained well short of the 2.5 per cent pace that used to be considered "normal".

The Reserve Bank of Australia (RBA) has already cut interest rates twice since February to 3.85 per cent and the minutes of the May policy meeting showed that it was open to an outsize half-point move as US tariffs darkened the outlook for the global economy.

المزيد من القصص من The Straits Times

The Straits Times

More support for Al start-ups to scale faster under new partnership

It is part of plan to forge tie-ups that take ideas from S'pore to the world: DPM Gan

time to read

4 mins

October 30, 2025

The Straits Times

The Straits Times

UPS cuts 48,000 jobs on fewer Amazon deliveries

NEW YORK - United Parcel Service (UPS) is cutting some 48,000 jobs as part of a major reorganisation connected to a planned reduction in delivery services for Amazon packages, company officials said on Oct 28.

time to read

1 min

October 30, 2025

The Straits Times

The Straits Times

Child protection • Consider renaming agency to reinforce its enforcement role

A nation searches its soul over the brutal abuse and killing of four-year-old Megan Khung.

time to read

1 min

October 30, 2025

The Straits Times

S'pore investing in field of embodied Al

Of the two cohorts supported so far, six startups are based in Singapore, reflecting how local innovators are helping to shape the region's low-carbon transition, said DPM Gan.

time to read

2 mins

October 30, 2025

The Straits Times

KL's ban on raw rare earths exports remains despite US deal: Minister

KUALA LUMPUR - Malaysia will maintain a ban on the export of raw rare earths to protect its domestic resources, despite signing a critical minerals deal with the US this week, the investment, trade and industry minister said on Oct 29.

time to read

1 min

October 30, 2025

The Straits Times

At least 132 killed in Brazil police raids in Rio ahead of COP30

Eighty-one arrested in operation described by state govt as largest to target major gang

time to read

2 mins

October 30, 2025

The Straits Times

Enlivening S’pore’s north, helping shops digitalise among ideas being studied by RTS Link task force

Rejuvenating neighbourhoods in Singapore’s north and supporting businesses through promotions and digitalisation are some plans being explored by a task force helping Singaporeans and local businesses seize opportunities from the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link.

time to read

3 mins

October 30, 2025

The Straits Times

Nasa tests ‘quiet’ supersonic jet in quest for faster passenger air travel

- Nasa’s X-59 Quesst supersonic-but-quiet jet soared over the Southern California desert on Oct 28 in the first test flight of an experimental aircraft designed to break the sound barrier with little noise, paving the way for faster commercial air travel.

time to read

2 mins

October 30, 2025

The Straits Times

Repetitive dullness snuffs out A House Of Dynamite

A HOUSE OF DYNAMITE (M18) 115 minutes, available on Netflix ★★☆☆☆ The story: A missile, possibly armed with a nuclear payload, launches from Asia and is headed towards the United States. Impact is expected in minutes. In the White House situation room, Captain Walker (Rebecca Ferguson) tries to work out the origins of the launch and the reasons for it. At the same time, at a military command centre in Nebraska, General Brady (Tracy Letts) weighs his options. Walker and Brady report their findings to the US President (Idris Elba) and Secretary of Defence Baker (Jared Harris). As minutes tick by, officials are forced to consider the unthinkable: a retaliatory nuclear strike.

time to read

1 mins

October 30, 2025

The Straits Times

What Asean and buoyant Manchester United have in common

Years of underachievement, now a moment in the sun. For both, the hard part comes next.

time to read

4 mins

October 30, 2025

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