Podcast Summary
Australian economy growth: Australia's economy grew at a rate of 0.2% last quarter, the slowest annual growth rate since the 90s, leading to decreased household spending and low savings.
Australia's economy experienced slow growth of 0.2% last quarter, bringing the annual rate down to 1%. This is the slowest growth rate since the early 90s, and households are feeling the pinch with spending decreasing and savings remaining low. The Treasurer, Jim Chalmers, emphasized the government's strategy of fighting inflation without causing significant harm to people. Meanwhile, the entertainment industry saw news of actor Simon Baker's guilty plea for drink driving. The weather in Victoria brought another severe weather warning, with damaging winds expected to reach up to 100 kilometers an hour. The NRL team, Broncos, are facing an end-of-season review after a disappointing season, with no chance of making it to the finals. Coach Kevin Walters hopes that a review will provide answers for the team's underachievement. Amidst these challenges, there is a call for strong performances and resilience.