12/07/2022
๐๐ก๐๐ญ ๐ก๐๐ฉ๐ฉ๐๐ง๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฎ๐ฌ๐ญ๐ซ๐๐ฅ๐ข๐๐ง ๐๐๐จ๐ง๐จ๐ฆ๐ฒ ๐ข๐ง ๐๐๐ซ๐๐ก ๐ช๐ฎ๐๐ซ๐ญ๐๐ซ ๐๐๐๐?
-The Australian economy grew 0.8% during the March quarter 2022, and 3.3% over the past year.
- Household spending was strongest in the eastern States (The Australian Capital Territory (3.0%), Victoria (2.7%), and New South Wales (1.9%)) most affected by Delta wave restrictions in the second half of last year.
- Consumer prices rose 2.1% during the March quarter 2022 and 5.1% over the year.
-Wage growth trailed inflation, despite a strong labour market. The Wage Price Index rose 0.7% during the quarter and 2.4% over the year.
- Rising global prices pushed Australiaโs terms of trade to a record high during the quarter, climbing 5.9%. The share of national income going to profits was a record high of 31.1%.
- Australiaโs imports surged, growing 8.1% during the quarter, the fastest rate of growth since December 2009. In contrast, Australiaโs exports fell 0.9%.
- Home building slowed for the second quarter in a row, falling 1.0%. Shortages of skilled labour and raw materials and unfavourable weather on the east coast subdued growth.
- Households saved 11.4% of their income during the quarter, down from 13.4% in the December quarter 2021.
Read more at: http://surl.li/ckkjq
Source: abs.gov.au
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