New study shows Long Covid cost Australian economy $9.6 billion in 2022

Australian workers living with Long Covid cost the economy nearly $10 billion at the peak of the pandemic in 2022, new research shows. A study published in the Medical Journal of Australia found that in 2022, approximately 100 million hours of work were lost by workers suffering the effects of Long Covid.

Finance Minister Jim Chalmers warns: Falling iron ore prices could hurt the Australian economy

Falling iron ore prices and the weakening Chinese steel industry could cause three billion dollars in damage to the Australian economy, warns Finance Minister Jim Chalmers. With iron ore prices closing at USD 81.80/tonne on Thursday, the global commodity price is below the price forecast at the time of the budget announcement, according to the … Read more

Japan's economy recovers strongly thanks to consumption boost

Japan's economy grew by 3.1 percent on an annual basis in the second quarter, which was much faster than expected. Thanks to a strong increase in consumption, it has recovered from a slump at the beginning of the year and is thus prepared for another short-term interest rate hike. The Bank of Japan had forecast … Read more