Australian Consumers Remain Downbeat About Economic Outlook
The Westpac-Melbourne Institute Consumer Sentiment Index slipped to 84.6 in September from 85.0 in August
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SYDNEY—Australian consumer confidence fell in September amid concerns about job security as economic growth slows to a crawl.
The Westpac-Melbourne Institute Consumer Sentiment Index slipped 0.5% to 84.6 in September from 85.0 in August.
While cost-of-living pressures are becoming a little less intense and fears of further interest rate rises have eased, consumers are becoming more concerned about where the economy may be headed and what this could mean for jobs, said Westpac’s Head of Australian Macro-Forecasting, Matthew Hassan.
Consumers remain concerned about rising inflation, which is stoking concerns that interest rates may rise further, Hassan added.
The report comes a week after data showed the economy barely registered a pulse in the second quarter as consumer spending dropped sharply.
On-year GDP growth in the second quarter was the weakest since the early 1990s, excluding the pandemic years.
At the same time, the Reserve Bank of Australia continued to signal that interest rate cuts are unlikely in the near term, while adding that under certain circumstances a further hike in interest rates may be needed.
The RBA remains concerned about price growth, with core inflation remaining stubbornly elevated at nearly 4.0% on year in the second quarter.
Still, while consumers are downbeat, economists expect spending to regather momentum over coming quarters as income tax cuts delivered in July boost household budgets.
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A 30-metre masterpiece unveiled in Monaco brings Lamborghini’s supercar drama to the high seas, powered by 7,600 horsepower and unmistakable Italian design.
A 30-metre masterpiece unveiled in Monaco brings Lamborghini’s supercar drama to the high seas, powered by 7,600 horsepower and unmistakable Italian design.
2 min
When Lamborghini takes to the water, subtlety isn’t on the agenda. Unveiled at the Monaco Yacht Show, the Tecnomar for Lamborghini 101FT is a 30-metre superyacht that fuses Italian automotive theatre with cutting-edge naval engineering.
The model builds on the collaboration that began in 2020 with the Tecnomar for Lamborghini 63, a sell-out success that celebrated the marque’s founding year.
This new flagship pushes the partnership between Automobili Lamborghini and The Italian Sea Group to a grander scale, designed to deliver the same adrenaline rush at sea that drivers expect behind the wheel.
“The Tecnomar for Lamborghini 101FT redefines the concept of nautical luxury,” said Stephan Winkelmann, Chairman and CEO of Automobili Lamborghini.
“It is not only a yacht, but an affirmation of Italian excellence. The Italian Sea Group and Automobili Lamborghini share an exclusive clientele who are passionate about beauty, technology, and extreme performance.”
Design cues are unmistakably Lamborghini. The yacht’s sharp exterior lines echo the Fenomeno supercar revealed at Monterey Car Week, complete with Giallo Crius launch livery and signature Y-shaped lighting.
Inside, the cockpit and lounges mirror the DNA of Sant’Agata supercars through hexagonal motifs, sculptural seating and dramatic contrasts. With accommodation for up to nine guests and three crew cabins, indulgence meets practicality on every deck.
Performance is equally uncompromising. Three MTU 16V 2000 M96L engines and triple surface propellers generate a combined 7,600 horsepower, driving the yacht to 45 knots at full throttle, with a cruising speed of 35 knots. Two 35 kW generators provide additional efficiency and reliability, ensuring the yacht’s power matches its presence.
Mitja Borkert, Lamborghini’s Design Director, said: “With the Tecnomar for Lamborghini 101FT, we aimed to create a product that embodies the main design characteristics of our super sports cars. All the details, from the exterior to the colour, to the interior areas, recall and are inspired by Lamborghini’s DNA.”
Presented in scale at Monaco, the definitive Tecnomar for Lamborghini 101FT is scheduled to hit the water at the end of 2027. For those who demand their indulgence measured not only in metres but in knots, this is Lamborghini’s most extravagant expression yet.
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