Westpac’s report, main points:
- Family finances again under pressure.
- Muted lift from ‘stage 3’ tax cuts and other fiscal measures, although many yet to see cash-flow boost.
- Biggest declines amongst middle income earners, Victorians, hospitality and construction workers.
- Rate rise expectations post big jump – 60% now expect higher rates.
- Steady outlook for labour market still the main source of support.
- Same story around housing: weak buyer sentiment and positive price expectations.
This article was written by Eamonn Sheridan at www.forexlive.com.
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