{"id":6318,"date":"2023-12-12T10:15:15","date_gmt":"2023-12-11T23:15:15","guid":{"rendered":"https:\/\/ghr.com.au\/?p=6318"},"modified":"2023-12-12T10:21:39","modified_gmt":"2023-12-11T23:21:39","slug":"business-update-13-december-2023","status":"publish","type":"post","link":"https:\/\/ghr.com.au\/business-update-13-december-2023\/","title":{"rendered":"Business Update \u2013 13 December 2023"},"content":{"rendered":"<p>Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy.<\/p>\n<h2>Australia\u2019s GDP is going backwards<\/h2>\n<p>We have now had <a href=\"https:\/\/www.theguardian.com\/business\/grogonomics\/2023\/dec\/06\/australia-gdp-september-quarter-falling-per-capita\" target=\"_blank\" rel=\"noopener\">three consecutive quarters of falling GDP on a per capita basis<\/a>. That last happened 40 years ago during the 1982-83 recession.\u00a0That is not good. And it doesn\u2019t get any better when you break down what drove what little growth there was.<\/p>\n<h2 class=\"Typography_base__sj2RP Heading_heading__VGa5B Headline_heading__CjnZn Typography_sizeMobile24__GzKLB Typography_sizeDesktop36__r8Mp_ Typography_lineHeightMobile32__IFQbj Typography_lineHeightDesktop48__RCwwV Typography_marginBottomMobileSmall__6wx7m Typography_marginBottomDesktopSmall__CboX4 Typography_black__9qnZ1 Typography_colourInherit__dfnUx Typography_normalise__u5o1s\" data-component=\"Heading\">Loan repayments will overtake NDIS to become fastest-growing spending pressure on federal budget<\/h2>\n<p>A mid-year budget update will show the Commonwealth is also wearing the <a href=\"https:\/\/www.abc.net.au\/news\/2023-12-10\/interest-payments-overtake-ndis-budget-spending-pressure\/103211204\" target=\"_blank\" rel=\"noopener\">pain of higher interest rates<\/a>, with new figures revealing interest payments will overtake the National Disability Insurance Scheme (NDIS) to become the fastest-growing\u00a0spending pressure on the budget.<\/p>\n<h2>Speedy shipping a core driver of online sales<\/h2>\n<p>Same-day or next-day shipping has become <a href=\"https:\/\/insidesmallbusiness.com.au\/latest-news\/speedy-shipping-a-core-driver-of-online-sales\" target=\"_blank\" rel=\"noopener\">one of the biggest drivers of online sales<\/a> according to new research.<\/p>\n<h2>Australian businesses to pull back on borrowing and investing in 2024<\/h2>\n<p>Businesses in Australia are planning to pull back on their loans and investments in the upcoming year, <a href=\"https:\/\/www.brokernews.com.au\/news\/breaking-news\/australian-businesses-to-pull-back-on-borrowing-and-investing-in-2024--survey-283784.aspx\" target=\"_blank\" rel=\"noopener\">according to a survey<\/a> commissioned by Small Business Loans Australia, a business loan comparison site.<\/p>\n<h2>Australian housing trends in 2024: Prices forecast to rise, slower growth<\/h2>\n<p>Australian <a href=\"https:\/\/www.theepochtimes.com\/world\/australian-housing-trends-in-2024-prices-forecasted-to-rise-slower-growth-5542762?utm_source=Aomorningbriefnoe&amp;src_src=Aomorningbriefnoe&amp;utm_campaign=Aomb-2023-12-08&amp;src_cmp=Aomb-2023-12-08&amp;utm_medium=Aoemail&amp;cta_utm_source=Aomorningbriefnoecta&amp;est=rxFlO7DfUaQpl8ySvdcwKlP3gdOCyOI1ur6xavpbNLUbUHwv2vlp%2FSROwl5xRmXN\" target=\"_blank\" rel=\"noopener\">housing prices are predicted to increase<\/a> in the next year, though at a slower pace than in 2023, driven by tax cuts, robust population growth, and sluggish housing supply.<\/p>\n<h2>Roy Morgan business confidence dropped 4.6pts in November<\/h2>\n<p>In November 2023 Roy Morgan Business Confidence was 85.8 (down 4.6pts since October). The <a href=\"https:\/\/www.roymorgan.com\/findings\/roy-morgan-business-confidence-november-2023\" target=\"_blank\" rel=\"noopener\">fall in Business Confidence<\/a> came after the RBA increased interest rates by 0.25% on Melbourne Cup Day to 4.35% &#8211; the highest official interest rates have been since December 2011.<\/p>\n<h2>How AI and immersive tech will impact e-commerce in 2024<\/h2>\n<p>Today\u2019s <a href=\"https:\/\/www.forbes.com\/sites\/forbestechcouncil\/2023\/11\/20\/how-ai-and-immersive-tech-will-impact-e-commerce-in-2024\/?sh=761d1f012d99\" target=\"_blank\" rel=\"noopener\">consumers want to know exactly what they\u2019re getting before they make a purchase<\/a>. But this often isn\u2019t possible when they shop online, where many e-commerce websites still display static and incomplete product images that don\u2019t tell the full story. That said, there are a few immersive technologies\u2014CGI and 3D imaging, augmented reality, AI and automation\u2014that can help e-commerce companies to convey their merchandise\u2019s full look and feel.<\/p>\n<h2>Get in touch<\/h2>\n<p>Contact us if you have any questions or want to discuss the next steps for your business.<\/p>\n<p><a class=\"button\" href=\"\/contact-us\/\">Contact us<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Australia\u2019s GDP is going backwards We have now had three consecutive quarters of falling GDP on a per capita basis. That last happened 40 years ago during the 1982-83 recession.\u00a0That is not good. And &hellip; <a href=\"https:\/\/ghr.com.au\/business-update-13-december-2023\/\">Continued<\/a><\/p>\n","protected":false},"author":2,"featured_media":5642,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[1],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Business Update \u2013 13 December 2023 - GHR Accounting Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ghr.com.au\/business-update-13-december-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business Update \u2013 13 December 2023 - GHR Accounting Group\" \/>\n<meta property=\"og:description\" content=\"Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Australia\u2019s GDP is going backwards We have now had three consecutive quarters of falling GDP on a per capita basis. That last happened 40 years ago during the 1982-83 recession.\u00a0That is not good. And &hellip; Continued\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ghr.com.au\/business-update-13-december-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"GHR Accounting Group\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-11T23:15:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-11T23:21:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ghr.com.au\/app\/uploads\/weekly-update-1-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bizink\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bizink\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ghr.com.au\/business-update-13-december-2023\/\",\"url\":\"https:\/\/ghr.com.au\/business-update-13-december-2023\/\",\"name\":\"Business Update \u2013 13 December 2023 - GHR Accounting Group\",\"isPartOf\":{\"@id\":\"https:\/\/ghr.com.au\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ghr.com.au\/business-update-13-december-2023\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ghr.com.au\/business-update-13-december-2023\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ghr.com.au\/app\/uploads\/weekly-update-1-3.jpg\",\"datePublished\":\"2023-12-11T23:15:15+00:00\",\"dateModified\":\"2023-12-11T23:21:39+00:00\",\"author\":{\"@id\":\"https:\/\/ghr.com.au\/#\/schema\/person\/b104a78b45b435df4451167efced007b\"},\"breadcrumb\":{\"@id\":\"https:\/\/ghr.com.au\/business-update-13-december-2023\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ghr.com.au\/business-update-13-december-2023\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ghr.com.au\/business-update-13-december-2023\/#primaryimage\",\"url\":\"https:\/\/ghr.com.au\/app\/uploads\/weekly-update-1-3.jpg\",\"contentUrl\":\"https:\/\/ghr.com.au\/app\/uploads\/weekly-update-1-3.jpg\",\"width\":750,\"height\":500,\"caption\":\"Weekly Update 1.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ghr.com.au\/business-update-13-december-2023\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ghr.com.au\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business Update \u2013 13 December 2023\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ghr.com.au\/#website\",\"url\":\"https:\/\/ghr.com.au\/\",\"name\":\"GHR Accounting Group\",\"description\":\"Accountants Northern Beaches | Financial Planners | GHR\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ghr.com.au\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/ghr.com.au\/#\/schema\/person\/b104a78b45b435df4451167efced007b\",\"name\":\"Bizink\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ghr.com.au\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/faa045ce72d95971cd78a70031145145?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/faa045ce72d95971cd78a70031145145?s=96&d=mm&r=g\",\"caption\":\"Bizink\"},\"url\":\"https:\/\/ghr.com.au\/author\/bizinkwpadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Business Update \u2013 13 December 2023 - GHR Accounting Group","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ghr.com.au\/business-update-13-december-2023\/","og_locale":"en_US","og_type":"article","og_title":"Business Update \u2013 13 December 2023 - GHR Accounting Group","og_description":"Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Australia\u2019s GDP is going backwards We have now had three consecutive quarters of falling GDP on a per capita basis. That last happened 40 years ago during the 1982-83 recession.\u00a0That is not good. 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