Aussie households still flush with savings

Advertisement

Last week’s national accounts for the June quarter showed that the massive reduction in economic stimulus (see next chart) is beginning to have a negative impact on household finances.

Stimulus

Stimulus unwind.

As shown in the next chart, household disposable income continued to retrace from the September quarter’s peak, declining another 1.2% over the quarter:

Household disposable income

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
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.