Global Bodies – IPU welcomes Brunei Darussalam – the last Asian Parliament to join

Source: Inter-Parliamentary Union (IPU)

The Inter-Parliamentary Union (IPU) today welcomed the Legislative Council of Brunei Darussalam as its 182nd Member Parliament, thus becoming the last remaining national Parliament in Asia to join the IPU.

Brunei Darussalam’s accession follows a process of engagement with the IPU. The Legislative Council first attended the 149th IPU Assembly in 2024, where its delegation held discussions with IPU Secretary General Martin Chungong. Building on this initial dialogue, the Council subsequently undertook the necessary steps to formalize its membership, which was confirmed at the 151st IPU Assembly in Geneva, Switzerland.

With a population of 455,000, Brunei Darussalam is the smallest country in Asia. Its Legislative Council is composed of up to 45 members appointed to five-year terms, with 34 currently serving.

Women occupy 11.8% of seats. The Speaker of Parliament, Mr. Abdul Rahman, has presided since 2015, while the Secretary General of Parliament, Ms. Huraini Hurairah, appointed in 2024, is among a growing cohort of women parliamentary Secretaries General in Asia.

The affiliation of Brunei Darussalam brings the IPU one step closer to universal membership of all the world’s national parliaments.

The IPU is the global organization of national parliaments. It was founded in 1889 as the first multilateral political organization in the world, encouraging cooperation and dialogue between all nations. Today, the IPU comprises 182 national Member Parliaments and 15 regional parliamentary bodies. It promotes peace, democracy and sustainable development. It helps parliaments become stronger, younger, greener and more gender-balanced. It also defends the human rights of parliamentarians through a dedicated committee made up of MPs from around the world.

Australia – Business Tech: PagerDuty strengthens APAC momentum with appointment of Callum Eade as Vice President, APAC Sales

 Source: PagerDuty

SYDNEY, Australia – 21 October 2025 – PagerDuty, Inc. (NYSE:PD), a global leader in digital operations management, has announced the appointment of Callum Eade to the position of Vice President, APAC Sales, reinforcing the company’s commitment to accelerating growth across the Asia-Pacific region. 
With over two decades of enterprise technology leadership experience at Citrix, VMware, and UiPath, Callum Eade brings a proven track record of driving high-performance cultures and customer-centric strategies across complex, high-growth markets.  
 
Since joining PagerDuty, his impact has been immediate, APAC exceeded both Q2 bookings and retention targets, delivering the region’s strongest quarter in over three years. 
 
PagerDuty Chief Executive Officer Jennifer Tejada said, “Callum’s appointment marks a pivotal moment for PagerDuty in APAC. His leadership is already delivering results, and his deep understanding of the enterprise landscape in this region is helping us build a scalable, customer-first sales engine.” 
 
“Callum is architecting a high-performing culture grounded in operational discipline and aligned to our four strategic pillars: proactive customer engagement, high-quality opportunity management, forecasting grounded in opportunity management, and continuous pipeline management. This focus is critical to securing APAC as a long-term growth engine for PagerDuty.” 
 
Callum’s leadership is also helping to embed a culture of excellence and accountability across the region, ensuring teams are empowered to deliver value at every stage of the customer journey. 
 
Callum says: “It’s an exciting time to be at PagerDuty, the opportunity to lead the APAC team and help our customers transform their digital operations is a privilege,” 
 
“We’re building something special here, one that’s grounded in trust, performance, and a relentless focus on customer outcomes.” 
 
PagerDuty continues to invest in the APAC region as part of its global growth strategy, with plans to expand its footprint, deepen customer relationships, and deliver even greater value through its real-time operations platform. 

About PagerDuty Inc.  

 
The PagerDuty Operations Cloud is an AI-powered platform that automates and orchestrates the entire incident management lifecycle—from detection to resolution, providing resilience at scale. Designed for mission-critical operations, the platform empowers teams to identify and diagnose disruptions in real time, mobilise the right teams to quickly streamline workflows to solve digital issues before they become incidents. The PagerDuty Operations Cloud is essential for delivering flawless, always-on digital experiences that organisations and consumers expect today. 

US Australia Relations – Ranking Member Shaheen Statement on President Trump Meeting with Australian Prime Minister Anthony Albanese

Source: United States Senate Committee on Foreign Relations

WASHINGTON – Today, U.S. Senator Jeanne Shaheen (D-NH), Ranking Member of the Senate Foreign Relations Committee, issued the following statement on President Trump’s meeting with Australian Prime Minister Anthony Albanese at the White House:

“Australia is a stalwart ally of the United States in the Indo-Pacific and a key bulwark of our collective security and prosperity. A strong U.S.-Australia partnership is also vital to deterring aggression by China in the region. I was glad to see President Trump voice support for AUKUS, which is key to both America’s security and ensuring that the burden of collective defense is shared more broadly among partners and allies.  

“The U.S. must also continue to deepen its cooperation with Australia on critical minerals to secure resilient supply chains that reduce our dependence on China and strengthen our industrial base. China’s recent retaliatory steps to President Trump’s unilateral trade war underscore just how important this is. I look forward to seeing the details of the signed critical minerals agreement and how it advances our shared goals.

“The Indo-Pacific is watching whether America stands by its word. Congress will continue working with our allies to ensure that AUKUS and our broader strategic partnerships deliver on their promise of shared security and prosperity.”

Pacific – North Guadalcanal Constituency ends leadership summit, pioneers strategic model for rural development

Source: Government of the Solomon Islands

The North Guadalcanal Constituency (NGC) office has successfully concluded a comprehensive leadership summit and training that charted a clear course for the strategic rollout of its Constituency Development Programme (CDP) across its 12 designated Economic Zones.

The high-level forum, hosted in Komporo village on October 11th – 12th, 2025, was hailed as ‘impressive’ by the Ministry of Rural Development’s (MRD).

The summit’s primary objectives were to unite constituency leaders, foster cohesive teamwork, and equip them with a robust understanding of their roles and responsibilities as mandated by the Constituency Development Funds (CDF) Act 2023.

This capacity-building initiative marks a critical step in translating the legislative framework into tangible and practical progress.

In his keynote address, the NGC Member of Parliament and Minister for Health, Honourable Dr. Paul Bosawai, emphasized that the leadership submit is firmly rooted in the provisions of the CDF Act 2023.

“This summit convened our Village Development Officers (VDOs) and the Constituency Development Committee (CDC), the very structures institutionalised by the new CDF legislation,” Honourable Dr. Bosawai said.

“Through this collaborative framework, we will anchor our development agenda,” he added.

The Honourable Minister also explained NGC’s inclusive, four-pillar governance structure, designed to ensure broad-based representation.

“Our model integrates national governance, which I represent (MP), provincial governance through our Members of the Provincial Assembly (MPAs), religious governance, and traditional governance. Together, these pillars constitute our CDC, ensuring every voice is heard in our development journey.”

Hon. Dr. Bosawai also unveiled the NGC Governance Framework, a strategic plan detailing how village communities, Wards, and the Constituency at large can organise to implement meaningful and sustainable development initiatives.

“Operating without a proper, transparent system is a disservice to our people. Without such a framework, our discussions about development remain merely theoretical. This structure is the bedrock upon which we will build tangible progress for North Guadalcanal,” he emphasized.

Linking the governance framework to economic empowerment, Hon. Dr. Bosawai highlighted the 12 Economic Zones launched in June 2025, an initiative strategically designed to bolster the constituency's cash economy, thereby creating greater opportunities for rural advancement for the betterment of NGC communities and the country as a whole.

“In our rural context, a vibrant cash economy is indispensable. It catalyses financial inclusion, sustains local enterprises, and provides a practical and reliable medium of exchange, especially in areas where digital infrastructure is still emerging. For our communities, a cash-based system remains the most accessible and functional economic driver,” the Honourable Minister highlighted.

The two-day summit also served as a platform for transparency and accountability, during which the constituency office presented its audited financial report for the 2024 CDF funding, while the chairpersons of the 12 Economic Zones delivered progress reports on their first four months of operational activities.

The MRD’s participation came at the official invitation of NGC, with the ministry’s team led by Director of Governance Noel Matea delivering detailed presentations on the CDF Act 2023, as well as critical topics such as public financial management and budgeting.

This engagement was aimed at empowering leaders to align their development planning and implementation with national legal and policy standards.

Director Matea emphasized the critical importance of this direct collaboration. “For the Ministry, this dialogue is essential.

“Constituencies are our primary stakeholders in the implementation of the CDF program. Ensuring their leaders are equipped with accurate and factual information is paramount to the success of rural development nationwide,” he said.

Mr. Matea, on behalf of the Ministry, commended Hon. Dr. Bosawai and the NGC constituency office for their proactive and systematic approach to development, as well as for setting a precedent in promoting collaborative efforts toward rural growth across the country.

He further affirmed the Ministry’s unwavering support and commitment to partnering with all 50 constituencies to ensure meaningful participation in the national rural development agenda.

“The MRD is profoundly impressed with the NGC constituency office, as they are amongst other constituencies that submit their complete acquittal/financial report for the 2024 CDF funding. This sets a commendable benchmark for financial accountability and good governance across all constituencies.”  

Pacific – Central Honiara Constituency reconnects Coronation School to the world with Starlink after months of internet disconnection

Source: Government of the Solomon Islands

The Central Honiara Constituency (CHC) office has supported Coronation Christian School in Honiara with the provision of a brand-new Starlink system, boosting the school’s digital connectivity and educational opportunities.

This support aims to bridge digital gaps and empower students and staff with reliable internet access. It also ensures the school's reconnection to the internet after three months of disconnection, following service suspension by the previous internet service provider for reasons only known to them.

Welcoming the assistance at a small but significant ceremony at the school on Tuesday this week (14 October), School Principal David Polosomana expressed profound gratitude to the constituency office for the generous and timely support.

He said the assistance came at the right time when the school was in dire need of internet restoration after months of disconnection.

“The three months of interruption have really affected the school a lot. Administratively, it slowed us staff down in responding to daily emails from the Ministry of Education. Also, teachers' access to updated information online regarding their lessons, as well as our Form 5 students' ability to do research tasks, was deprived. Therefore, this generous support is a great gift, and it means so much to us,” Mr. Polosomana said.

He further stated that not only the school would benefit from the Starlink system, but the congregation of the Church of Living Word, which runs the school, would also benefit because they will also use network access for online streaming and other church programs to reach out to people with the Gospel of God.

Secretary to the Education Provider Board and Chairman of the School Board and Management, Pastor Steve Alufurai, shared similar sentiments.

He said, “This is not the first time the constituency office has stepped in to support the school under the leadership of Honourable Gordon Darcy Lilo. Support has been provided in the past in terms of offerings and tithes to the church.”

“Realizing the CHC office is actively supporting and addressing the immediate needs of schools within the constituency is encouraging,” Pastor Alufurai expressed.

While expressing gratitude to Honourable Lilo, MP, he said that the school management, staff, and students look forward to further collaboration with the constituency office.

Meanwhile, Constituency Development Officer (CDO) Rexford Paul said that the constituency office is pleased to support the school and other schools in the constituency to transform their learning environments and to provide new opportunities for digital learning, research, and communication for both staff and students.

“In our increasingly connected world, access to the internet is vital for educational development and global engagement. The constituency office, on behalf of Hon. Lilo, is proud to support Coronation School in its journey to become a hub of learning and innovation, ensuring our students and teachers are not left behind in the digital age,” CDO Paul underscored.

“This support aligns with our commitment to fostering innovation, education, and inclusive progress in our constituency,” he added.

School Principal Polosomana, further expressed appreciation to Honourable Lilo through the constituency office for the donation, emphasizing its impact on students' and staff’s educational experience.

“Reliable internet access will enable our students and staff to access vast educational resources, participate in e-learning, and develop skills important for the future,” Mr. Polosomana said.

This support is part of the constituency office’s ongoing commitment under the leadership of Honourable Lilo to support schools and community development initiatives in the constituency.

The CHC office previously provided similar support to Tuvaruhu School and the Solomon Islands Planned Parenthood Association (SIPPA). Koloale Community High School is next to receive support, along with other schools.

The project assistance was part of the eight Starlink packages purchased by the constituency office with funds made available from the Solomon Islands Government through the Ministry of Rural Development’s Constituency Development Funds (CDF) program, under the CHC 2024 budget allocation. The eight Starlink packages cost about $75,000.00.

This initiative supports efforts to strengthen ICT in education, aligning with the Ministry of Education’s ICT in Education Master Plan 2026–2030.

CDO Paul stated that this project is part of the broader commitment of the CHC office to promote digital literacy and inclusive education.

“Ensuring schools within the constituency are equipped with ICT equipment and supplies to support the future of our children (students) in their learning is of utmost importance,” he emphasised.        

The small but significant handover ceremony was attended by school staff, students, and representatives from the Central Honiara Constituency office and the Ministry of Rural Development (MRD).

Coronation Christian School is run under the Church of Living Word Education Authority. Located in Honiara and rooted in Christian values and principles, the school provides a nurturing learning environment focused on academic excellence, moral development, and spiritual growth.

Global Bodies – IPU publication advocates for stronger parliamentary oversight amid record highs in military expenditure

Source: Inter-Parliamentary Union (IPU)

With global military expenditure rising to a record estimate of USD 2.7 trillion in 2024, a new Inter-Parliamentary Union (IPU) issue brief calls for parliaments to strengthen their scrutiny of defence spending in the interests of transparency, accountability and democracy.

The IPU publication, Democratic checks, military balances: Parliamentary oversight in an era of rising military expenditure warns that unchecked defence spending risks weakening democratic controls, diverting funds from essential public services such as health and education, and allowing executive power to go unchallenged.

According to the Stockholm International Peace Research Institute, 2024 marked the tenth consecutive year of global increases in military budgets, amid more than 120 conflicts worldwide.

The brief highlights that a portion of military spending remains off budget – outside regular parliamentary or public scrutiny – often justified on the grounds of national security or emergency response. These opaque practices can undermine transparency and accountability and increase the risk of corruption or misappropriation of public funds.

However, the brief also cites several examples of effective parliamentary oversight:

In Canada, independent analysis by the Parliamentary Budget Officer delayed procurement of a costly fighter jet and boosted fiscal transparency. Chile’s repeal of the secretive “Copper Law” led to a more accountable defence funding framework. Denmark’s multi-party Defence Agreements have helped stabilize military budgets while keeping the executive within agreed limits. In South Africa, parliamentary audits ensure military funds are not diverted without proper oversight, and in the Republic of Korea, parliamentary scrutiny blocked the declaration of martial law in 2024.

To strengthen democratic control of defence spending, the publication recommends the following:

Require regular, public reporting on all military budgets, including off-budget funds.
Enable independent audits and apply rigorous financial management standards.
Hold open committee hearings on defence matters to foster trust and transparency.
Integrate gender analysis into budgeting to create more inclusive security policies.
Empower legislators to summon senior officials and impose time limits on emergency allocations.

The IPU is the global organization of national parliaments. It was founded in 1889 as the first multilateral political organization in the world, encouraging cooperation and dialogue between all nations. Today, the IPU comprises 181 national Member Parliaments and 15 regional parliamentary bodies. It promotes peace, democracy and sustainable development. It helps parliaments become stronger, younger, greener and more gender-balanced. It also defends the human rights of parliamentarians through a dedicated committee made up of MPs from around the world.

Energy – Production started from Bacalhau, Equinor’s largest international field

Source: Equinor

16 October 2025 – On 15 October, at 22.56 Rio time, Equinor and its partners ExxonMobil Brasil, Petrogal Brasil (JV Galp|Sinopec) and Pré-sal Petróleo SA (PPSA) achieved start-up of production from the large Bacalhau field in Brazil. With recoverable reserves exceeding 1 billion barrels of oil equivalent (boe), Bacalhau is the largest international offshore field ever developed by Equinor.

“The safe start-up of Bacalhau marks a major milestone for Equinor. Bacalhau represents a new generation of projects that bring together scale, cost-efficiency and lower carbon intensity. With this development, we are strengthening the longevity of our oil and gas production and securing value creation for decades to come,” says Anders Opedal, President and CEO of Equinor.

Bacalhau is located in the pre-salt region of Brazil's Santos Basin in ultra-deep water exceeding 2,000 metres. The field features one of the most modern Floating Production Storage and Offloading vessels (FPSO) in the world, measuring 370 metres in length and 64 metres in width, with a production capacity of 220,000 barrels of oil per day (bpd).

Anders Opedal (left), president and CEO of Equinor, Geir Tungesvik, executive vice president, Projects, Drilling and Procurement, and Philippe Mathieu, executive vice president for Exploration and Production International
Photos: Ole Jørgen Bratland / Equinor

Phase 1 development consists of 19 wells, producers and injectors, which will be brought online in sequence as we ramp up and sustain production. Equinor will be positioned to provide an update in 2026 during the ramp-up phase.

“Around 70 million hours of work have been recorded in the project with solid safety results. I would like to sincerely thank our partners, suppliers, and employees for making this achievement a reality. With its size, water depth and lower carbon intensity, Bacalhau is a testament to our engineering capabilities and ability to operate internationally,” says Geir Tungesvik, Executive Vice President, Projects, Drilling and Procurement.

The Bacalhau FPSO features combined-cycle gas turbines (CCGT), a technology that significantly reduces carbon intensity. With an expected CO₂ intensity of around 9 kg per boe, and advanced abatement across flaring, processing, power generation, and storage, the field sets a new benchmark for cost efficient and lower emission deepwater production.

“Brazil is a core area for us and Bacalhau will be a major contributorto Equinor’s goal of generating more than 5 billion dollars of free cashflow by 2030 from our international portfolio. Bacalhau will also deliver positive ripple effects and long-term benefits to Brazil´s economy, creating approximately 50,000 jobs over its 30-year lifetime,” says Philippe Mathieu, Executive Vice President for Exploration and Production International.

MODEC, the FPSO contractor, will operate the unit for the initial phase. Thereafter, Equinor plans to operate the Bacalhau facilities until end of the license period.

Facts – Bacalhau

The Bacalhau discovery well was drilled by Petrobras in 2012
Equinor took over as operator in 2016
Bacalhau is the first field development in Brazil’s pre-salt to be developed by an international operator
The field is located 185 km from the coast of the municipality of Ilhabela/SP, in the state of São Paulo, in water depths of above 2,000 meters
Phase 1 reserves are > 1 billion barrels and with a production capacity of 220,000 boe/d
The partners in Bacalhau: Equinor (40%, operator), ExxonMobil Brasil (40%), Petrogal Brasil (JV Galp|Sinopec) (20%) and Pré-Sal Petróleo S.A (PPSA – Government Company, PSA Manager).

Facts – Equinor in Brazil

Equinor has been present in Brazil for more than two decades
Brazil is a core area for the company’s long-term growth
In addition to Bacalhau, Equinor is operator for the Raia development, another major ultra deepwater field development, expected to come on stream in 2028.
Equinor is also expanding its investments in renewable energy, with onshore assets already in operation and more projects under development through its subsidiary Rio Energy.

Economy – China’s export surge strengthens Xi’s hand as Trump raises trade war stakes

Source: deVere Group

October 16 2025 – China's booming exports have handed Beijing critical leverage as President Xi Jinping and US President Donald Trump lock into the fiercest trade confrontation in years, warns global financial advisory giant deVere Group.

China's exports jumped 8.3% in September from a year earlier, smashing forecasts and outpacing August's growth.

Imports climbed 7.4%, a signal that the country's industrial engine remains formidable despite Washington's efforts to apply pressure through tariffs and technology restrictions.

The surge lands as US Treasury Secretary Scott Bessent hints that the current three-month pause on import duties could be extended — but only if China abandons its plan to impose strict new export controls on rare-earth elements.

These materials are indispensable for global manufacturing, from electric vehicles to advanced chips and weapons systems.

Nigel Green, CEO of deVere Group, says: “Scott Bessent is trying to use tariff relief as leverage, but Beijing's export rebound means the pressure is flowing both ways.

“Xi Jinping now has proof that China's trade engine is resilient and that his government can absorb external shocks while the US is still searching for negotiating traction.”

The standoff has escalated since Beijing announced sweeping export licences for rare-earth and magnet technologies, effectively tightening its grip over supply chains that the West cannot yet replace.

Washington's reaction was immediate: threats of 100% tariffs, new curbs on Chinese software, and talk of allied coordination through the G7 to deter further Chinese restrictions.

“The trade war has evolved into a power contest over who controls the materials and technologies that drive the modern economy,” says Nigel Green.

“China's message is that it can dictate the pace of global production. Washington's message is that it's willing to risk economic pain to prevent that dominance.

“Neither side looks ready to blink.”

Despite the stand-off, China's export growth is being driven by markets far beyond the US. Shipments to the European Union, Southeast Asia, Africa, and Latin America are all rising at double-digit rates, showing how effectively Beijing has diversified its trade routes.

Exports to the US, by contrast, continue to shrink sharply, down more than a quarter year on year, yet China's overall export growth remains robust.

Nigel Green says: “Beijing's ability to expand into new markets while withstanding US tariffs is one of the defining shifts of the decade.

“It shows how global manufacturing still relies on China's capacity, logistics, and pricing power. Even in a period of confrontation, the rest of the world cannot easily step away.”

Markets are already feeling the tension. Currency volatility has increased, commodity prices have jumped, and equity investors are recalibrating exposure to sectors tied to global manufacturing.

“The next phase of this trade battle will shape monetary policy and investor sentiment worldwide,” says the deVere CEO.

“If tariffs rise and supply chains fracture, inflationary pressures could return just as central banks are preparing to loosen policy. The combination could create both disruption and opportunity across portfolios.”

He adds: “Periods of geopolitical stress often produce outsized gains for those positioned ahead of the cycle.

“Countries and companies able to fill the production gaps left by restricted trade will emerge as major winners.

“Investors who maintain diversified exposure across regions and asset classes will be best placed to benefit.”

For now, Beijing appears emboldened. The export data bolster its claim that China can weather any tariff escalation and sustain global demand. Washington, meanwhile, faces the dilemma of tightening further without triggering inflation or alienating allies who depend on Chinese supply chains.

Nigel Green concludes: “The numbers out of Beijing change the tone of the talks. China goes into the next round stronger, not weaker.

“The US may hold the world's largest consumer market, but China is proving it still controls the world's factory floor.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

Economy – KOF Economic Forecast: update on the autumn forecast for 2025

Source: KOF Economic Institute

Switzerland's State Secretariat for Economic Affairs (SECO) and Federal Statistical Office (FSO) have carried out a benchmark revision of GDP data. This comprehensive revision of the national accounts has led to some significant adjustments in the time series. The KOF Institute has updated its autumn forecast on this basis. Overall, the economic outlook has hardly changed compared with the forecast published in September.

Further information on the revision of this data can be found in the FSO/SECO Revision Analysis for 2025: National Accounts.

The main changes in the data revision relate primarily to manufacturing and the wholesale trade on the production side, investment on the expenditure side, and merchanting as well as some trade in services as part of foreign trade. The KOF Institute has updated its forecast on the basis of this new data. The results confirm the general picture to date: the outlook for the Swiss economy remains largely unchanged. Only the gap between gross domestic product (GDP) and GDP adjusted for major sporting events has narrowed slightly, as additional major events are being taken into account in the current year.

Foreign trade

The outlook for foreign trade remains subdued. The adjustment has been particularly pronounced in merchanting, which is not relevant to the economic cycle. Consequently, the growth forecast for total exports in 2025 is now lower at 1.3 per cent (previously 2.8 per cent). The outlook for trade in goods remains unchanged. Imports and exports of services have been revised downwards, which means that the current data better reflect the subdued outlook for foreign trade. The forecast for service imports in 2025 is now for a decrease of 2.1 per cent (previously growth of 3.1 per cent). Service exports are now down slightly by 0.6 per cent in 2025 (previously up by 0.5 per cent).

Equipment investment

Equipment investment has been particularly affected by the recent benchmark revision of the Swiss Federal Statistical Office's (SFO) national accounts. According to the revised data, they fell much less sharply during the pandemic than previously assumed (2020: down by 0.4 per cent instead of 1.5 per cent) and recovered more strongly over the following years than previously reported (2021: up by 6.9 per cent instead of 5.8 per cent; 2022: up by 4.7 per cent instead of 3.3 per cent). Furthermore, the revised data for 2023 and 2024 now show a largely modestly positive trend in investment instead of the previous decline (2023: up by 3.8 per cent instead of 1.4 per cent; 2024: up by 1.2 per cent instead of a decrease of 2.1 per cent).

At present, however, the investment outlook remains unchanged. Weak earnings, insufficient capacity utilisation and ongoing uncertainty are weighing on firms' investment plans. Against this backdrop, KOF now expects investment to decline by 1.0 per cent in 2025 (previously growth of 0.6 per cent) based on the latest data. Investment is expected to stagnate in 2026 (up by 0.1 per cent; previously 0.2 per cent) before picking up again moderately in 2027 (up by 2.1 per cent; previously 2.0 per cent).

Construction investment

The data on investment and production in the construction sector has changed owing to the benchmark revision carried out by the Federal Statistical Office (FSO). Real construction investment declined by 1.5 per cent and 1.4 per cent in 2023 and 2024 respectively (previously: 2023: down by 2.7 per cent, 2024: up by 2.2 per cent). As this shifts the starting point, the KOF Institute now expects construction investment to stagnate this year (0.0 per cent) instead of increasing by 1.4 per cent. A recovery is expected over the following years (2026: growth of 1.4 per cent, 2027: 1.5 per cent).

Based on the latest information, the recent growth picture in the construction segments has clouded over slightly: following six years of declines, residential construction is likely to have fallen again last year (2024: down by 1.1 per cent). Stabilisation followed by a modest recovery will not begin until this year at the earliest (2025: decrease of 0.4 per cent, 2026: growth of 1.0 per cent). However, the surprising increase in industrial, commercial and service construction in 2023 is still likely to be followed by a slowdown (2024: fall of 7.5 per cent, 2025: decline of 4.6 per cent) before firms' subdued investment appetite gradually improves over the further forecast period.

Australia – Household spending continues to rise as Aussies stream, game, and upgrade into spring – CBA

Source: Commonwealth Bank of Australia (CBA)

16 October 2025 – Continued growth in household spending signals that the Australian economy is gaining momentum.

  • Household spending rose 0.6 per cent in September, marking the twelfth consecutive monthly lift and signalling a cyclical upswing in consumer activity.
  • Digital and Utilities led September gain, with streaming hits such as ‘The Summer I Turned Pretty’, and new tech releases including the iPhone 17 boosting the Communications & Digital category by 1.1 per cent.
  • Over the past year, spending on online gaming has risen a massive 38 per cent, while video streaming (31 per cent) and computer stores (21 per cent) have also seen significant gains.
  • Annual spending growth reached 7.5 per cent, the strongest since May 2023, underpinned by lower rates, moderating inflation, and steady household confidence.
Australian households continued to loosen the purse strings in September, up 0.6 per cent and continuing the consistently strong pace of spending growth seen since March, according to the latest CommBank Household Spending Insights (HSI) Index.

The annual pace of growth in the HSI now sits at 7.5 per cent for the year.

Head of Australian Economics Belinda Allen says the trend points to a more upbeat consumer backdrop.

“Momentum in household spending has been building since early 2025. Lower interest rates, moderating inflation and tax cuts last year have created a more favourable environment for consumers. Even when we strip out the impact of higher utility bills, spending remains solid across key categories.”

Digital habits drive spending surge

Eight of the 12 spending categories recorded gains in September, led by Utilities (+1.4 per cent) and Communications & Digital (+1.1 per cent), the same top performers as August.

Communications & Digital spending was boosted by the release of the new iPhone, alongside continued strength in online gaming and streaming services. The popularity of shows such as The Summer I Turned Pretty and major gaming releases kept Australians engaged across digital platforms and the growing use of AI.

Over the past year, spending on online gaming has risen a massive 38 per cent, while video streaming (31 per cent) and computer stores (21 per cent) have also seen significant gains.

“We’re seeing consumers lean into at-home entertainment, whether that’s a new phone upgrade, a binge-worthy series or gaming with friends,” Ms Allen said. “Digital spending is now a structural feature of household budgets, not a passing trend.”

Utilities surge as rebates roll off

Utilities spending continues to climb as energy rebates are scaled back, making it the top-performing category over the past year, up 16.6 per cent year-on-year.

Other gains included Health (+1.0 per cent), Insurance (+0.8 per cent), Household goods and services (+0.7 per cent), and Hospitality (+0.6 per cent)..

Transport was flat for the month, while Motor vehicles (-0.2 per cent), Education (-0.1 per cent), and Recreation (-0.1 per cent) recorded small declines.

While the end of energy rebates has influenced spending growth, the annual growth rate excluding Utilities still sits at a solid 6.4 per cent for the year.

Consumer upswing taking hold

“The consistent flow of data showing spending growth supports our view that Australia’s consumer cycle is turning upward,” Allen said.

“While households are still navigating cost-of-living pressures, the foundations for spending growth are in place. The question now is whether this momentum will extend into summer or if households will revert to a more cautious stance given low levels of consumer sentiment. Our base case remains that the last cut to the cash rate from the Reserve Bank of Australia will come in February.”