Accept slower growth and lay off demanding households spend
This week's September quarter national accounts proved at least one thing - you can goad households toward the shopping malls, but you can't make them spend.
This week's September quarter national accounts proved at least one thing - you can goad households toward the shopping malls, but you can't make them spend.
Despite recent interest rate cuts and high tax refunds, consumer spending rose a paltry 0.1 per cent. That's despite the fact real household disposable income surged by 2.3 per cent.
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David Bassanese is chief economist at BetaShares Exchange Traded Funds. He writes on markets specialising in debt, derivatives and monetary policy. He worked at the federal Treasury, OECD and Macquarie Bank. Connect with David on Twitter.
