The ANZ-Roy Morgan Financial Wellbeing Report has been released, which claims that Australian household savings are running at five-year highs:
Figure 8 shows that the amount of savings Australians hold in deposit and transaction accounts has increased, with mean savings rising from $29,430 in December 2014 to $41,262 in December 2018, and median savings increasing from $4110 in December 2014 to $5640 in December 2018:
APRA monthly banking statistics and the ABS demographic statistics both show an increase in Australians’ household savings on a per capita basis from $28,146 in December 2014 to $36,068 in December 2018…
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
