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The household sector remains a weak link in the Australian economy

Stephen Koukoulas

Market Economics Pty Ltd

The household sector remains a weak link in the Australian economy. The Westpac-Melbourne Institute of consumer sentiment remained below 100 index points for the ninth straight month, even though it ticked up slightly to 96.6 points in November. Consumers remain pessimistic, on average, and while ever this remains the case, household spending is likely to remain soggy and certainly not strong enough to sustain real GDP growth at 3 per cent or more. Of more concern is the ongoing weakness in wages growth. The Wage Price Index rose a tepid 2.6 per cent in the year to the September quarter, equal to the lowest since the series began and probably the lowest increase in Australian wages since at least the 1960s (the data on wages are complicated by breaks in data collection and methodological changes). See more here: (VIEW LINK)


Stephen Koukoulas
Chief Economist
Market Economics Pty Ltd

Stephen Koukoulas has a rare and specialised professional experience over more than 25 years as an economist in government, as Global Head of economic and market research, a Chief Economist for two major banks and as economic advisor to the Prime...

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