{"id":165538,"date":"2022-06-02T17:30:51","date_gmt":"2022-06-02T07:30:51","guid":{"rendered":"https:\/\/propertyupdate.com.au\/?p=165538"},"modified":"2022-06-02T16:16:04","modified_gmt":"2022-06-02T06:16:04","slug":"more-underwhelming-economic-data-for-the-rba-to-ponder","status":"publish","type":"post","link":"https:\/\/propertyupdate.com.au\/more-underwhelming-economic-data-for-the-rba-to-ponder\/","title":{"rendered":"More underwhelming economic data for the RBA to ponder"},"content":{"rendered":"

The latest economic data released by the ABS has revealed a continuation of the underwhelming results reported since the RBA surprisingly increased official interest rates last month for the first time in over a decade.<\/p>\n

The ABS revealed that GDP increased by a moderate 0.8% over the March quarter - well below the 3.3% increase reported over the previous December quarter and similar to the modest pre-pandemic rates.<\/p>\n

\"Abs<\/p>\n

The GDP data also revealed that household savings levels are continuing to fall with the savings ratio over the March quarter at 11.4% - down from the 13.4% recorded over the previous quarter and the lowest result over the Covid period.<\/p>\n

Gross disposable income increased by 0.6% over the quarter with compensation to employees up by 1.8% \u2013 lower than the 2.0% recorded over the previous December quarter.<\/p>\n

The latest GDP data adds to other modest results reported over recent weeks - disappointing ABS Wage Index growth, low employment growth and another fall in the participation rate - and will challenge the latest RBA assumptions on the frequency and level of rate rises as it manages the tricky business of reducing high inflation without creating a hard landing for the economy.<\/p>\n

<\/div>\r\n
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The latest economic data released by the ABS has revealed a continuation of the underwhelming results reported since the RBA surprisingly increased official interest rates last month for the first time in over a decade. The ABS revealed that GDP increased by a moderate 0.8% over the March quarter – well below the 3.3% increase…<\/p>\n","protected":false},"author":50,"featured_media":71585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[54],"tags":[],"class_list":["post-165538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-property-updates"],"acf":[],"yoast_head":"\nMore underwhelming economic data for the RBA to ponder<\/title>\n<meta name=\"description\" content=\"The latest economic data released by the ABS has revealed a continuation of the underwhelming results reported since the RBA surprisingly increased...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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