Economy grows by 0.2 percent in September quarter
Households rein in spending but government expenditure goes up as cost-of-living rebates kick in
Households rein in spending but government expenditure goes up as cost-of-living rebates kick in
Australian gross domestic product (GDP) rose by 0.2 percent in the September quarter, taking the annual rate of economic growth to 2.1 percent, according to new figures from the Australian Bureau of Statistics (ABS). Katherine Keenan, ABS head of national accounts, said: “This was the eighth straight rise in quarterly GDP, but growth has slowed over 2023.”
Ms Kennan said the quarterly increase was due to a rise in government spending and investment while household spending remained flat. Government expenditure rose by 1.1 percent in the September quarter following an 0.6 percent rise in the June quarter.
“The growth in government expenditure was driven by social benefits to households, including the Energy Bill Relief Fund rebates, and extra payments for childcare, aged care and pharmaceutical products,” she said. The energy rebates had a big impact. The ABS said electricity prices rose by 4.2 percent during the quarter. Without the rebates, they would have risen 18.6 percent.
The Federal Government also spent more on defence, funding international training exercises held in Australia during the quarter. “National and state public corporations increased their capital investment by 8.9 percent, with boosted investment in transport, communication and utilities projects,” Ms Keenan said.
Wages including superannuation rose by 2.6 percent due to an increase in the super guarantee rate from 10 percent to 10.5 percent and a bump in the minimum wage alongside low unemployment. The wage price index rose 1.3 percent, which was the fastest quarterly rise on record. More jobs had wage movement and the average change in wages was significantly higher. The unemployment rate in the month of September was 3.6 percent.
Inflation rose by 1.2 percent during the September quarter, with the biggest contributors being higher petrol prices, rents, new dwelling purchases by owner-occupiers and electricity prices. Spending on fresh food fell 0.2 percent, alcohol purchases from bottle shops fell for the fifth consecutive quarter and gambling taxes fell 6.9 percent after a similar fall in the June quarter. Those who could afford it continued the post-COVID revenge travel trend. Travel services imports rose by 19.5 percent as more Australians headed overseas during the Northern Hemisphere summer. Travel exports grew 4.4 percent during the quarter due to the FIFA Women’s World Cup World Cup and a record level of international student enrolments.
Cost-of-living pressures fuelled by sticky inflation and high interest rates pushed the household saving-to-income ratio to its lowest level since 2007. The ratio fell for the eighth consecutive quarter, with Australians now only saving 1.1 percent of their incomes.
The impact of homeowners coming off fixed home loan rates was reflected in the 7.6 percent increase in interest paid by mortgagees over the quarter. The Reserve Bank did not raise the cash rate during the September quarter. Renters continued to do it tough, with rents now up 7.6 percent on an annual CPI basis, which is the largest annual increase since 2009. Australians also paid 7.6 percent more income tax due to the ending of the low and middle income tax offset.
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The lunar flyby would be the deepest humans have traveled in space in decades.
It’s go time for the highest-stakes mission at NASA in more than 50 years.
On April 1, the agency is set to launch four astronauts around the moon, the deepest human spaceflight since the final Apollo lunar landing in 1972.
The launch window for Artemis II , as the mission is called, opens at 6:24 p.m. ET.
National Aeronautics and Space Administration teams have been preparing the vehicles to depart from Florida’s Kennedy Space Center on the planned roughly 10-day trip. Crew members have trained for years for this moment.
Reid Wiseman, the NASA astronaut serving as mission commander, said he doesn’t fear taking the voyage. A widower, he does worry at times about what he is putting his daughters through.
“I could have a very comfortable life for them,” Wiseman said in an interview last September.
“But I’m also a human, and I see the spirit in their eyes that is burning in my soul too. And so we’ve just got to never stop going.”
Wiseman’s crewmates on Artemis II are NASA’s Victor Glover and Christina Koch, as well as Canadian Space Agency astronaut Jeremy Hansen.

What are the goals for Artemis II?
The biggest one: Safely fly the crew on vehicles that have never carried astronauts before.
The towering Space Launch System rocket has the job of lofting a vehicle called Orion into space and on its way to the moon.
Orion is designed to carry the crew around the moon and back. Myriad systems on the ship—life support, communications, navigation—will be tested with the astronauts on board.
SLS and Orion don’t have much flight experience. The vehicles last flew in 2022, when the agency completed its uncrewed Artemis I mission .
How is the mission expected to unfold?
Artemis II will begin when SLS takes off from a launchpad in Florida with Orion stacked on top of it.
The so-called upper stage of SLS will later separate from the main part of the rocket with Orion attached, and use its engine to set up the latter vehicle for a push to the moon.
After Orion separates from the upper stage, it will conduct what is called a translunar injection—the engine firing that commits Orion to soaring out to the moon. It will fly to the moon over the course of a few days and travel around its far side.
Orion will face a tough return home after speeding through space. As it hits Earth’s atmosphere, Orion will be flying at 25,000 miles an hour and face temperatures of 5,000 degrees as it slows down. The capsule is designed to land under parachutes in the Pacific Ocean, not far from San Diego.

Is it possible Artemis II will be delayed?
Yes.
For safety reasons, the agency won’t launch if certain tough weather conditions roll through the Cape Canaveral, Fla., area. Delays caused by technical problems are possible, too. NASA has other dates identified for the mission if it doesn’t begin April 1.
Who are the astronauts flying on Artemis II?
The crew will be led by Wiseman, a retired Navy pilot who completed military deployments before joining NASA’s astronaut corps. He traveled to the International Space Station in 2014.
Two other astronauts will represent NASA during the mission: Glover, an experienced Navy pilot, and Koch, who began her career as an electrical engineer for the agency and once spent a year at a research station in the South Pole. Both have traveled to the space station before.
Hansen is a military pilot who joined Canada’s astronaut corps in 2009. He will be making his first trip to space.
Koch’s participation in Artemis II will mark the first time a woman has flown beyond orbits near Earth. Glover and Hansen will be the first African-American and non-American astronauts, respectively, to do the same.
What will the astronauts do during the flight?
The astronauts will evaluate how Orion flies, practice emergency procedures and capture images of the far side of the moon for scientific and exploration purposes (they may become the first humans to see parts of the far side of the lunar surface). Health-tracking projects of the astronauts are designed to inform future missions.
Those efforts will play out in Orion’s crew module, which has about two minivans worth of living area.
On board, the astronauts will spend about 30 minutes a day exercising, using a device that allows them to do dead lifts, rowing and more. Sleep will come in eight-hour stretches in hammocks.
There is a custom-made warmer for meals, with beef brisket and veggie quiche on the menu.
Each astronaut is permitted two flavored beverages a day, including coffee. The crew will hold one hourlong shared meal each day.
The Universal Waste Management System—that’s the toilet—uses air flow to pull fluid and solid waste away into containers.
What happens after Artemis II?
Assuming it goes well, NASA will march on to Artemis III, scheduled for next year. During that operation, NASA plans to launch Orion with crew members on board and have the ship practice docking with lunar-lander vehicles that Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin have been developing. The rendezvous operations will occur relatively close to Earth.
NASA hopes that its contractors and the agency itself are ready to attempt one or more lunar landing missions in 2028. Many current and former spaceflight officials are skeptical that timeline is feasible.
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