Wainwright Marks Management – Decline in labor productivity contributes to Australia's economic woes.

A standalone plebiscite with a compulsory vote on marriage equality could cost the Australian economy $525 million according to modelling released by PwC Australia today.

WA's multi-billion-dollar iron ore mines have kept operating throughout the coronavirus pandemic as Chinese demand continues — and experts say they could be what saves the Australian economy in the recovery.

Australia has started plans on re-opening its economy after a period of social distancing. Ivan Colhoun of the National Australian Bank suggests looking to fiscal stimulus to cushion the hit to their economy, and to keep an eye on how lower immigration may slow the economy in the long term.

A standalone plebiscite with a compulsory vote on marriage equality could cost the Australian economy $525 million according to modelling released by PwC Australia today.

AMP Capital chief economist Shane Oliver has said the bushfires engulfing Australia could wipe off up to 1 per cent of the nation's GDP growth this year - a staggering $13billion.

The International Monetary Fund is so downbeat about Australia it has downgraded its growth forecasts for 2019 - expecting it to do even worse than Greece which has debt problems.

Martin Parkinson, who last year retired as head of the Department of Prime Minister and Cabinet, has described China's economic threat against Australia as a 'wake-up call' and a 'favour'.

The global lender said the national economy would shrink by 6.7 per cent in 2020 - the largest contraction since the Great Depression - and Australia would be one of Asia's worst-affected countries.