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1.Market Observations, 8.Was Sticky

7 June 2018 (AFR) – Exports revive wage hope – How the economy started the year on a tear

(7 June 2018, AFR, p1, by Jacob Greber)

GDP and non-farm GDP (ABS)

GDP and non-farm GDP (ABS)

‘Galloping iron ore, coal and liquefied natural gas exports, alongside infrastructure investment and population growth, are generating an economic growth spurt that could start to revive workers’ stagnating wages. While high household debt, a falling savings rate and ongoing income pressures remain weak points for growth – as well as a jarring slump in farm production – gross domestic product leapt 1 per cent in the March quarter, matching the best quarterly results since late 2011, when the economy last grew 1.1 per cent.’

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