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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 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:
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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.
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