Matthew Hassan, Research Analyst at Westpac, explains that the March quarter was a disappointing one for the Australian consumer as the spending came in well below expectations, rising just 0.3%, and while annual growth remains respectable at 2.9%yr, the on-again-off-again quarterly profile continues to question the underlying momentum to demand. Key Quotes “On incomes, the latest data was more mixed than weak. Nominal labour income posted a solid 1.1% rise in the March quarter with upward revisions lifting annual growth to 5.1%yr, the fastest pace since mid-2012.” “Broader estimates of household income were also on the weak side in the March quarter. Real disposable income for example, which includes non labour earnings, nets out tax and interest payments and adjusts for inflation, posted a weak 0.2% gain to be up 1.1%yr.” “Recent developments around household balance sheets add another risk to the outlook: savings rates could even rise.” “On balance it suggests we could see some lift in savings and an extra headwind to consumption growth.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next ECB’s Villeroy: first rate rise could come in summer 2019 FX Street 4 years Matthew Hassan, Research Analyst at Westpac, explains that the March quarter was a disappointing one for the Australian consumer as the spending came in well below expectations, rising just 0.3%, and while annual growth remains respectable at 2.9%yr, the on-again-off-again quarterly profile continues to question the underlying momentum to demand. Key Quotes "On incomes, the latest data was more mixed than weak. Nominal labour income posted a solid 1.1% rise in the March quarter with upward revisions lifting annual growth to 5.1%yr, the fastest pace since mid-2012." "Broader estimates of household income were also on the weak side in the… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
