The growth in new residential builds during 2025-26 is encouraging, with planning changes and market forces helping direct more investment towards increasing housing supply.
KPMG’s latest Retail Health Index finds many households timing their spending around promotional events as cost-of-living bites, while rising costs have hampered the ability of many retailers to preserve their margins.
Australia’s fintech landscape sees investment activity being increasingly concentrated in a smaller number of strategic transactions involving more mature fintechs.
As the private equity market continues to show strong resilience globally, the ASPAC region is sharpening its focus on value creation with AI expected to be a key driver.
Australia’s dairy industry continues to undergo significant structural change, while it remains resilient, challenges facing producers are becoming increasingly complex.
Analysis of current mining sector risks and future scenarios highlights a sector adapting to a dynamic and interconnected risk environment.
Though the 2026 vintage winegrape crush has fallen by 19 percent, the national average purchase price declined 6 percent, highlighting that demand-side pressures continue to outweigh supply reductions.
The dream of homeownership remains alive due to increased owner‑occupiers in Western Australia, Queensland and Victoria, writes KPMG Urban Economist Terry Rawnsley.
This report features KPMG’s forecast of the complex commercial property market, highlighting current dynamics across different cities globally.
The latest CPI data that shows core inflation rising adds to the case for a rate hike, with Australia looking set for incredibly weak growth for the rest of the year.
KPMG analysis of ABS data reveals growing financial pressure is causing lower life satisfaction levels in Australians today than during the pandemic.
Rising fuel costs and supply chain uncertainties from tensions in the Middle East, along with higher interest rates has seen Australian households adopt greater caution in spending decisions.
This profile suggests a declining annual rate of growth through 2026 such that by the end of the year the economy would have only grown 1.3 percent, writes, KPMG Chief Economist Brendan Rynne.
Being a diverse region with various legal systems and market norms, outcomes in ASPAC’s private credit market depend on control, timing and where the value sits as highlighted by Peter Gotherd, Michelle Low, and Lauren Pickard.
KPMG’s analysis of Australia’s big four banks’ half-year results show resilience amid global uncertainty, rising competition, and cost pressures.
The downturn across most major cities hints at a pivotal shift, with long-stalled housing projects finally breaking ground, easing the build-up of homes stuck in the pipeline, writes KPMG Urban Economist Terry Rawnsley.
The recent changes to the NDIS settings may have consequences for Supported Independent Living providers in the form of timing, cash-flow, and execution risk. James Dampney and Steve Wilson outline where providers should put their focus to strengthen their business.
The result is a jobs number that looks better on paper than it feels to most workers, hence the ongoing anxiety consumers are expressing in consumer attitude surveys, as outlined by KPMG US Chief Economist Diane Swonk.
KPMG’s latest Global Construction Survey finds that poor productivity leaves a potential A$56 billion annual opportunity on the table.
We examine key indicators in Australia’s economy with the Middle East conflict intensifying inflation pressures and constraining growth.
Economic growth exceeded expectations in late 2025, though momentum remains fragile and heavily reliant on public demand, with weak private activity, subdued productivity and soft household consumption.
Any price increases being generated within the economy are likely to be passed through to final prices, pushing inflation even higher, writes KPMG Australia Chief Economist Brendan Rynne.
The war in Iran is adding to inflation pressures due to tariffs, and more is in the pipeline so inflation will no doubt move higher before we see any signs of cooling, writes KPMG US Chief Economist Dianne Swonk.
The APP2026 saw robust discussions on policy solutions to address challenges currently faced by patients as part of larger economic headwinds.
Emerging credit stress is beginning to show among producers in Western Australia with an international conflict having the potential to change their fortunes for 2026.
The latest Agribusiness Spotlight report examines conditions in the Australian beef sector entering 2026, focusing on seasonal risk, global trade dynamics and the implications for agribusiness portfolios.
Interest rate hikes and expectations have slowed the recovery momentum for the Australian retail sector, while the rise of the “precision consumer” means retailers would need to sharpen their value proposition.
This edition of Economic Compass explores how risks could reshape the outlook – from higher oil prices and rattled markets to renewed inflation pressures.
Despite the positive data, we have an economy with a weak private sector, a concerned household sector and a government sector that is crowding out the business sector, writes KPMG Australia Chief Economist Brendan Rynne.
The consumer and retail sector faces a convergence of macro forces from geopolitical volatility to the accelerating impact of AI. This KPMG report highlights how consumer and retail leaders are responding.
Large and small businesses are realising that there are serious benefits to setting up shop in the state’s south east, not just from a lifestyle perspective but because it makes strong economic sense.
KPMG’s labour market analysis highlights statistics in the sub-markets that contribute to Australia’s overall unemployment numbers.
House prices across the country are expected to increase by 7.7 percent this year, with momentum in the property market expected to continue in 2026.
The latest Australian Retail Outlook presents retail sector trends and insights for 2026, including digital transformation, rising customer expectations, and supply chain innovation.
KPMG’s Pulse of Fintech report reveals cautious optimism amongst fintech investors, particularly in Australia where challenging market conditions resulted in the slowest first half on record in terms of fintech investment.
KPMG’s latest update on Australia’s commercial property market suggests that confidence is returning to the office, retail, and industrial sectors, however the risks and challenges of 2025 is expected to continue into 2026.
Domestically, Australia’s economy has shifted into a higher gear, albeit continuing to operate below historical growth trends.
KPMG’s Retail Health Index recorded its first non-negative result in almost four years as consumer sentiment and international trade outlook improves.
The global wine industry stands at a crossroads as declining consumption, demographic shifts, and climate challenges are reshaping both production and demand. George Choimes examines key trends and the path forward for the industry.
Though inflation is not quite out of the picture yet, household spending is making a comeback as mortgage stress is declining.
A two-speed economy has emerged in Australia’s hospitality industry as small businesses weather the macroeconomic environment, and larger operators look for expansion opportunities.
The impressive growth of the South East Queensland region signals a coming-of-age moment, cementing its place as a major hub for economic and cultural activity.
While the Big 4 Banks are the main financiers for residential apartment developments in NSW, private credit firms are financing more projects with a higher estimated value in Western Sydney as developers favour high-end developments.
KPMG’s biannual Australian Inflation and Cost Dynamics report is designed to provide unique and timely insights into the complexities of inflation and its driving forces within the Australian economy.
With FY26 farmgate milk prices set and input costs continuing to climb, confidence among Australia’s dairy farmers is slipping. This Agribusiness Spotlight unpacks the sector’s challenges and explores what it means for the future of Australian dairy.
KPMG’s latest analysis on Australian Major Banks reveals steady FY25 results amid surging credit growth and technology spend.
ASIC’s November 2025 report on private credit funds is a positive milestone for the industry, offering clear direction and practical recommendations to support growth, transparency, and investor confidence.
Improved operating conditions contribute to downward trend of zombie companies but rises remain in certain sectors and conditions remain delicate amidst geopolitical and inflation outlook.
As disposable income increases in China, consumer tastes are changing with the market becoming more vibrant and local brands accelerating overseas expansion.
Labour demand and labour supply are both declining at the same time in the US, with firms cautious about hiring, as discussed by KPMG US Senior Economist Matthew Nestler.
While the recent acceleration in economic activity is encouraging, it is too early to celebrate; growth remains below trend, and the recovery is still uneven.
Consumer spending enthusiasm in the US continues to surprise amid ongoing trade concerns and the softening labour market, writes KPMG Senior Economist Benjamin Shoesmith.
Unseasonably warm and dry conditions have resulted in an unprecedented environmental phenomenon that threatens the crucial aquaculture and tourism industries of South Australia’s coastal regions. George Choimes and Claire Muecke discuss what affected businesses can do to mitigate its impacts.
The labour market should remain strong, maintaining a relatively balanced position to the end of the year and continuing to operate around full employment, writes KPMG Chief Economist Brendan Rynne.
Expectations for Australia’s retail sector to return to positive territory gets pushed back as slower GDP growth and global uncertainty from US tariffs have dampened momentum.
Price pressures on Australia’s wine sector continue to persist despite supply declining and markets opening. Tim Mableson outlines the current factors and historic events that have contributed to this situation.
KPMG's forecast of the national dwelling market highlights the complexity of current market dynamics across different cities and property types.
KPMG China has released the Q3 edition of the 2025 China Economic Monitor which analyses the latest trends in the macro economy and policy developments.
The possibility of a September rate cut is high but not a slam-dunk, as US Fed officials have tempered calls for an outsized cut in September, writes KPMG US Senior Economist Ken Kim.
KPMG’s labour market analysis highlights statistics in the sub-markets that contribute to Australia’s overall unemployment numbers.
It will not take much for consumers to recalibrate their spending as we expect to see larger price increases for retail goods in July and August, writes KPMG US Senior Economist Ken Kim.
The data will reinforce the weakness that is continuing within the private side of the Australian economy, writes KPMG’s Chief Economist Brendan Rynne.
Though the number of new homes approved throughout Australia fell in the May 2025 quarter, a closer look reveals where growth areas are and the factors behind it.
With commercial property in the retail and industrial sectors are now recording positive returns, and returns from the office sector bottoming out, there’s an optimistic outlook for Australia’s commercial property market despite recent global economic developments.
The latest Agribusiness Spotlight update on the beef sector looks back at 2024 and examine the potential impact the recently announced US tariffs will have on Australian beef exports.
Retail stores are beginning to bounce back, with both clothing, footwear, personal accessory and department stores enjoying gains, writes KPMG Economist Terry Rawnsley.
The recent Australian Pharmacy Professional conference saw government reiterating its commitments, updates from industry bodies, and discussions over emerging issues and concerns in the pharmacy industry.
Unsurprisingly, the announcement of global tariffs caught the eye of Australian suppliers and consumers, though KPMG’s indicator of the health of Australia’s retail sector indicates that the medium-term outlook remains positive.
Europe faces a modest growth outlook in the short term, as uncertainty weighs on business investment and consumer confidence.
The slowing retail figures and the flat private sector investment capex figures show the economy is still fairly fragile, which justifies the RBA’s recent rate cut, writes KPMG Australia Economist Terry Rawnsley.
Although the data suggests that inflation remains persistent, it also confirms that the RBA now has more headroom to act quickly in reducing rates if negative shocks threaten the growth outlook, writes KPMG Senior Economist Michael Malakellis.
Unemployment is expected to rise gradually, inflation is firmly in target and lower global economic growth is forecast – all factors allowing the RBA to signal a lower cash rate profile back to neutral, writes KPMG Australia Chief Economist Brendan Rynne.
Real wages are now growing at around 1 percent – great news for households – especially if it is backed up by an increase in productivity, writes KPMG Australia Chief Economist Brendan Rynne.
The data confirms that the right approach for RBA is to ease off the interest rate brake, to help stimulate a soft economy, writes KPMG Australia Chief Economist Brendan Rynne.
The rise in spending to hedge against a surge in tariffs masks an underlying weakness, notably in business investment, writes KPMG US Chief Economist Diane Swonk.
This edition of Economic Compass, from KPMG US Chief Economist Diane Swonk takes a closer look at the fallout from the most recent round of tariffs.
Private Equity firms entered 2025 cashed-up and ready to get back into deal-making, with several transactions completing within Q1. The momentum, however, looks to be stalling and pipelines are appearing dryer than originally hoped. KPMG’s latest insights highlight what type of trends and concerns are top of mind for the year ahead.
Optimism is returning to the housing market as the total number of dwellings approved in the three months to February surpasses the five-year average, KPMG Australia’s Urban Economist Terry Rawnsley discusses the key factors influencing the market in capital cities.
With the retail industry facing significant challenges, KPMG International’s analysis reveals that major shifts in valuations, due diligence, and post-merger integration are on the horizon.
KPMG’s indicator of the health of Australia’s retail sector continues to trend towards the light, though retailers are not out of the woods.
What is unknown is how much of the rise in tariffs will boost prices as we move through the year and how durable those price hikes could be, writes KPMG US Chief Economist Diane Swonk.
Australian deal value improves markedly in 2024, however volumes remain challenged with the startup and scale-up environment still struggling to find its footing.
The US Fed needs to be confident that inflation will continue to cool and stay low to cut interest rates again, however tariffs and the threat of retaliation by some of our closest trading partners make that less likely, writes KPMG US Chief Economist Diane Swonk.
The figures again show the RBA’s decision to cut rates in February would have been a line-ball call, despite the slowing economy benefiting from some easing of monetary policy, as outlined by KPMG Australia’s Chief Economist Brendan Rynne.
Though there have been some positive developments amongst private healthcare providers and private health insurers, the sector’s challenging operating environment will continue to play out for years.
The decline in growth reflects the slowing economy, although with CPI down to 2.4 percent, the figures at least represent modest real wage growth, writes Terry Rawnsley.
The weak January report suggests that the health of consumer spending, which carried the US economy to robust growth last year, will bear close watching in the months ahead, writes KPMG Senior Advisor Chris Varvares.
The latest Australian Retail Outlook presents retail sector trends and insights for 2025, including digital evolution, customer experience, sustainability and supply chain optimisation.
This report includes KPMG’s forecast of the national dwelling market, highlighting the complexity of current market dynamics across different cities and property types.
Australia's economy is experiencing slow growth, impacted by cost-of-living packages and CPI adjustments, presenting challenges for policymakers.
Importantly, in seasonally adjusted terms, all this employment growth was driven by full-time jobs; this has been fuelled by elevated levels of public spending, writes KPMG Chief Economist Brendan Rynne.
While there are signs of potential recovery and momentum, the overall outlook for the retail sector remains cautious with continued challenges and slow growth in discretionary spending.
Regardless of whether Australia’s recent aggregate economic performance meets the requirements of being classified as a technical recession, households, businesses and investors know the economy is underperforming, writes KPMG Chief Economist Brendan Rynne.
Consumers in the United States have pushed back on price hikes and are spending when they spot discounts, as detailed by KPMG US Senior Economist Meagan Schoenberger.
Australia’s corporate financial performance recorded a strong improvement in the latest KPMG FPI, but the rise in the number of zombie companies paint a more complicated picture.
As property developers in the Gold Coast contend with increased construction costs, rising interest rates, and a shortage of builders, our research shows almost 7,000 apartments waiting for construction to commence, presenting further challenges for project feasibility.
KPMG remains of the view that with the decline in inflation accelerating, and the expectation still that Australia’s labour market will weaken in the near term, the RBA will start to cut the cash rate from early next year.
September’s KPMG Private Insights Webinar Series discusses the current key retail megatrends, what is making local trading conditions so difficult and how businesses can respond.
We believe the RBA will still want to see core inflation well below the top of the target band before it moves on reducing the cash rate, writes Brendan Rynne.
Real-time data from the United States reveals show that job postings have been flat since May but have hit a slight downward trend in October, as outlined by KPMG US Senior Economist Matthew Nestler.
KPMG’s November 2024 Agri update shines a light on the impact of Tomato Brown Rugose Fruit Virus, the ongoing threats posed by Avian Flu on Australia’s poultry industry, and how Varroa Mites are impacting the Australia’s bee population.
Housing construction bottlenecks have seen 34,325 dwellings in Australia remain 'approved but not yet commenced' as of 30 June 2024, as outlined by Terry Rawnsley.
Despite the relative weakness in the private sector labour data, we remain of the view that the RBA will maintain the current contractionary levels of cash rate at 4.35 percent until early 2025, writes KPMG Australia Chief Economist Brendan Rynne.
This edition of Economic Compass provides a closer look at KPMG US’ baseline forecast for the country’s economy prior to the hurricanes.
Continued discounting, lower inflation and savings rates suggest that spending for the US consumer still has room to grow, writes KPMG US Senior Economist Matthew Nestler.
The third and final instalment of this insights series highlights the priorities the wine sector should be focused upon to ensure long-term sustainability.
The global economy has reached an inflection point with monetary policy now facing an easing pathway in the near term, although the extent and length of this easing remains unclear.
We feel that the RBA is now in a position to re-think the warning it has given in its last two statements of the “need to remain vigilant to upside risks to inflation and the Board is not ruling anything in or out”, writes KPMG Senior Economist Michael Malakellis.
In the second part of KPMG Australia’s September 2024 Wine Insights series, we explore how the industry is responding to the supply and demand imbalance that is rocking the wine market worldwide.
Despite the recent reopening of the China market that led to a swift uplift in exports, supply and demand imbalances across the globe has left plenty in Australia’s wine sector firmly with a glass half empty view of their prospects.
The latest Agribusiness Spotlight Series examines the impact of higher-than-expected rainfall and strong export demand into the United States and Asian markets on Australia’s beef industry.
In the next KPMG’s Private Insights Webinar Series, to be held on Thursday 26 September, Gayle Dickerson and James Stewart discuss the current key retail megatrends, what is making local trading conditions so difficult and how businesses can respond.
Consumers in the United States continued to spend in response to discounting in July, but they dipped into their savings to do so.
Productivity – the real key to growth – is also falling and this declining productivity represents businesses holding onto labour while not selling enough to justify their roles, writes Brendan Rynne.
Ongoing pressure on household budgets is constraining discretionary spend and likely to increase the failure rate of hospitality businesses over the next 12 months.
Federal Reserve Chairman Jay Powell said the rise in unemployment in the United States is due to an increase in participation, not layoffs.
US retail sales surged in July despite a lowered forecast in June as consumers spent where the price cuts were greatest.
The strong employment performance was due to a rise in the participation rate by 0.2 percent to a new record level of 67.1 percent – with more than half of the increase in full-time employment this month being for female workers, writes Brendan Rynne.
The RBA has revised its inflation outlook to reflect a more persistent path compared to three months ago, citing factors such as resilient domestic demand and geopolitical uncertainties, as detailed by KPMG Australia Senior Economist Michael Malakellis.
There is no way to make the United States’ July employment report look good, and we now expect double the number of rate cuts compared to just a month ago, writes KPMG US Chief Economist Diane Swonk.
