Australia Q1 Wage Price Index: 0.5% q/q (vs. expected +0.6%)
Australian wage growth data for the first quarter (January to March) of 2018
0.5 % q/q
- expected +0.6% q/q, prior +0.6%
2.1 % y/y
- expected +2.1% y/y, prior +2.1%
Again with the slow growth .... still, on the bright side at least its growth!
Me painting a brighter picture .... but the slowness is the issue. Add it to high levels of debt and house prices seemingly a little weaker and there you have a weight on consumer spending and thus economic growth.
The RBA is not overly concerned. What could possibly go wrong? ;-)
- private sector +0.5% q/q and +1.9% y/y
- public +0.5%, +2.3%
AUD off a few tickles or so
For background on the data, previews [osted earlier: