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Hej!
As we surpass the halfway mark of 2024, the Australian economic outlook remains mixed and uncertain, shaped by global market volatility and economic conditions in China and the US. Growth is 0.2% for the June quarter and 1.5% for the 2023-24 financial year. The RBA's cash rate is currently at 4.35%, contributing to a tight housing market. Although inflation has decreased to 3.8% in June 2024 from 6% in June 2023, the rising cost of living continues to outpace wage growth, exerting pressure on households. While business confidence shows slight improvement, retail, construction, and manufacturing sectors remain weak. Financial institutions project gradual growth, anticipating an increase to 2.3% by the end of 2025.
After a quieter period in July, August brought the highlight of the Absolut Swedish-Australian Cross-Cultural Leadership event, which enjoyed a full house, engaging panel discussions, and exceptional sponsorship from Pernod Ricard.
Looking ahead to September, we invite you to attend “How Australian Business is Tracking on Sustainability,” organised by ABB in collaboration with Engineers Australia across three cities -Brisbane 19 Sept, Melbourne 25 Sept, and Sydney 26 Sept. Sign up here.
Additionally, mark your calendars for our next virtual APAC CEO talk series on October 17, featuring Magnus Ahlkvist, president and CEO of Securitas Group. This event is free for all members!
We are also gearing up for our 113th SACC AGM and networking event, scheduled for October 29 at Business Sweden's office in Sydney. For those unable to attend in person, a virtual option will be available.
A significant calendar highlight is the SACC 2024 Swedish Business in Australia Awards & Christmas Dinner, co-hosted by the Embassy of Sweden. This year's event will take place at the prestigious Fullerton Hotel in the Heritage Ballroom on November 21. We will honour our Business Award winners and celebrate Swedish Christmas traditions, including Lucia, festive food and music. Don’t forget to register your company’s attendance and consider entering any of the seven award categories. The deadline for submissions is October 11, 2024.
Enjoy reading and best wishes!
Jan Gardberg, President, Swedish Australian Chamber of Commerce
Read more about the awards and enter here. |
