Household spending rises 6.0%
Consumers remain in a spending mood, but there’s been a clear reduction in the rate at which their spending has been increasing. Households spent 6.0% more in April than the year before, according to the Australian Bureau of Statistics (ABS). That compares to 29.1% through-the-year growth in August 2022. “This is mainly due to lower […]
Employees benefiting from tight labour market
Wages are growing at their fastest rate in 11 years – and there are three main reasons. The Australian Bureau of Statistics (ABS) has reported that wages in the March quarter rose 3.7% on an annualised basis, the largest since 2012. The ABS’s acting head of prices statistics, Leigh Merrington, said rising wages growth was […]
Profits growing at sluggish pace
Company gross operating profits are continuing to grow, but at a below-average rate, according to the most recent data from the Australian Bureau of Statistics (ABS). Since the turn of the century, gross profits in the March quarter have increased by an average of 3.1% on a quarterly basis and 10.6% on an annualised basis. […]
