Wages data from Australia for the October - December quarter of 2017
+0.6% q/q
- expected 0.5% q/q, prior 0.5%
+2.1% y/y
- expected 2.0% y/y, prior 2.0%
Both are beats but still way below average wage growth.
More:
- Private sector wage growth +1.9% y/y
- Public sector +2.4% y/y
A lacklustre result for wage growth. Up, sure, but still very slow indeed.
AUD/USD up a few pips after the data.
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The background to this is of course the slow wage growth in ozzAustralia ... which combined with high levels of household debt ... is constraining consumption.
