Despite sluggish economic growth, Australians' 'financial health has improved' over the last twelve months according to economist Stephen Koukoulas. Australia's GDP only grew by 1.4 per cent over the last year, the worst result since the global financial crisis. The GDP figures come as recent Australian Bureau of Statistics' figures show wages have only risen 0.5 per cent for the three months until September 30th.
Mr Koukoulas told Sky News it's clear "the economy is not performing well". However he said fiscal measures undertaken by the federal government and the Reserve Bank have resulted in Australians having more money to spend. "The money is in the bank, people either have lower debt, they've paid off credit cards...or they have put their money on a deposit even if they are not getting a very high interest rate," said Mr Koukoulas.
TheKouk Rubbish.
TheKouk So says IPA TV
TheKouk 30 minutes ago I strolled past a butcher shop in Mandurah WA which had a sandwich board out the front offering Afterpay. Putting food on tick is an indication of where the national economy is right now for many small businesses & vulnerable consumers.
TheKouk Bad article Kouk ... bad economist naughty. 3 qtrs of GDP per capitia recession and the Kouk tells the cons that it's not so bad. That's almost as bad as selling pig iron to the japs.
TheKouk It just goes to show how money can corrupt a person. If my house has gone up 10% I can’t sell it and by one the same cheaper . It’s just a number on a property it doesn’t change nothing
TheKouk Kouk is in the pocket of the property lobby
TheKouk Only for those with appreciating house prices/good employment. Those who rent, nope. Those without employment, nope. Those with low income employment, nope. Those with 1 property are relatively the same until they sell, where it provides liquidity/money for retirement. Need more
TheKouk Except for pensioners and self funded retires. But who cares? JoshFrydenberg