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Australia's 'financial health has improved' | Sky News AustraliaDespite sluggish economic growth, Australians' 'financial health has improved' over the last twelve months according to economist Stephen Koukoulas.\n\n Australia's GDP only grew by 1.4 per cent over the last year, the worst result since the global financial crisis.\n\nThe 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.\n\nMr Koukoulas told Sky News it's clear 'the economy is not performing well'.\n\nHowever he said fiscal measures undertaken by the federal government and the Reserve Bank have resulted in Australians having more money to spend.\n\n'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.\n\n'But he public's financial health has improved with tax cuts, interest rates and the fact the economy is still growing.'\n\n\n TheKouk Except for pensioners and self funded retires. But who cares? JoshFrydenberg 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 Kouk is in the pocket of the property lobby
Source: SkyNewsAust - 🏆 7. / 78 Read more »