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Australia - Q3 Wage Price Index: +0.4% q/q (expected +0.5%)

Australian Wage Price Index for the July - September quarter

0.4% q/q, MISS

  • expected +0.5%
  • prior +0.5%

1.9% y/y MISS ... lowest on record (series began in 1997)

  • expected +2.0%
  • prior 2.1%

Private sector wages grew 0.4 per cent and public sector wages grew 0.6 per cent in the September quarter 2016

  • For the y/y, private sector wages +1.9 per cent, public sector +2.3 per cent

Weak wage growth is a concern for its impact on consumer spending. While wages fall behind its difficult to get sustainable growth in household spending.

With low wage growth and low inflation, is it too early to be calling an end to the Reserve Bank of Australia rate cut cycle? The RBA expects inflation to pick up, the impetus for this is unlikely to come from wage pressure it would seem.

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New Motor Vehicle Sales for October also

  • -2.4% m/m (prior +2.5%)
  • +1.2% y/y (prior +0.8%)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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