Households feel the pinch of a struggling economy

Declining real wages, a subdued labour market and concerns over the federal budget are taking their toll on Australian households and clouding the RBA's medium-term outlook for growth.

The household sector has lost its way over the past few months and poses a significant risk to the rebalancing of the Australian economy. Trade rose moderately in June but volumes were down in the quarter and indicate that household spending may fall for the first time since 2008 when the national accounts are released next month.

The value of retail sales rose by 0.6 per cent in June, beating market expectations, to be 5.5 per cent higher over the year. Sales rebounded following four consecutive months of subpar growth.

{{content.question}}

Mastercard

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to proceed…

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access

Mastercard

Updating information

Please wait ...

Trial

Mastercard
{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles