The Economic Perspective 30 May 2025
- aclark1896
- May 30
- 2 min read
The Latest Trending Economic News Curated for You by Balmoral Group Australia
Good morning readers,
The weather this week has been weirder than usual. Sydney took a break from torrential downpours for a rare dust storm on Tuesday. The dust had travelled as far as South Australia, although it certainly wasn't as severe as 2009, when the dust cloud was visible from space. Check out this week's video to revisit that day.
Also this week, the EU has reapproached its CO2 regulations for car manufacturers, offering greater flexibility to meet an average target as opposed to annual targets. Further, Australia continues to fight rising house prices by expanding housing supply, which rose by 7% over the first quarter of 2025. Though, "The recent lift in house building activity is nowhere near enough to put us on track for the (2029 National Housing Accord) target." - Innes Willox, chief executive of the Australian Industry Group
Hope you enjoy the articles and have a great weekend!
EU Grants Carmakers 3-Year CO₂ Compliance Window Ahead of 2025 Targets
The European Union has officially approved a regulatory amendment that gives car manufacturers additional leeway to meet their CO₂ emissions targets. The Council of the European Union adopted the final legislative step, allowing automakers to assess compliance with fleet-wide emissions targets over a three-year average (2025–2027) rather than annually. Find out more here.
Warm winter forecast for Australia as SA and Victoria face unseasonal fire risk
Australia’s winter will be warmer and wetter this year, with higher than average day and night temperatures, and above-average rainfall likely in central and interior parts of the country. The Bureau of Meteorology’s long-range forecast said parts of the tropical north, south-east and south-west could expect typical winter rainfall, including coastal areas of New South Wales affected by the May floods, and parts of South Australia, Victoria and Tasmania where there have been prolonged dry conditions. Read more here.
Australia's housing goals face hurdles despite 7 per cent rise in home construction
Australians forked out more than $24.2 billion on home construction in the latest three-month reporting period, but experts warn building activity must significantly escalate to meet the federal government's goal to build 1.2 million homes by 2029. See more here
Raining one week, dusty the next – how did a dust storm make it all the way to rainy Sydney?
Much to the surprise of Sydney-siders, a dusty haze settled over the city on Tuesday morning after a week of heavy rain. Satellite images reveal the dust storm formed in the Mid-North region of South Australia, east of Spencer Gulf, at around 11am on Monday. It then travelled through western Victoria into New South Wales, reaching Sydney approximately 18 hours later. More here
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