Sunday, 25 August 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Australia Wages Growth Remains Moribund in 2Q
Wednesday, 14 August 2019 08:49 WIB | ECONOMY | AustraliaUpah Minimum,AUD,

Australian wages growth was better than expected in the second quarter as a result of a strong lift in pay for public servants, although the Reserve Bank of Australia remains likely to lower interest rates again before the year-end.

Wages rose a seasonally adjusted 0.6% compared to the first quarter and rose by 2.3% from a year earlier, the Australian Bureau of Statistics said Wednesday. Drivers included health care and social services.

Private sector wages rose by 0.5% in the quarter, and rose by 2.3% from a year earlier, while public-sector wages rose by 0.8% in the quarter and increased by 2.6% from a year earlier.

Wages growth over the past year was strongest in Victoria state, which logged a 2.9% increase. Western Australia was the outlier with growth of just 1.6%.

Weak wages growth is a major concern for policy makers, with the RBA reducing interest rates in June and July citing a sharp slowdown in consumer demand as the trigger for the cuts.

Economists are betting the RBA will cut further in the months ahead as it attempts to boost GDP growth and mop up spare capacity in the job market.

RBA Governor Philip Lowe has identified weak wages and sagging productivity growth as major challenges for the economy, calling on the governments to lift spending and enact economic reforms.

With the RBA's official cash rate at a record-low 1%, the debate in markets has turned to the possibility that the central bank will soon introduce alternative policy measures to lift the economy.

Source : Bloomberg

RELATED NEWS
German Companies Brace for Economic Recession as Orders Crumble...
Thursday, 22 August 2019 14:47 WIB

Shrinking order books and expectations for a decline in output signal companies in Europe™s largest economy are bracing for a possible recession. German manufacturing shrank for an eighth...

French Activity Picks Up as Manufacturing Returns to Growth...
Thursday, 22 August 2019 14:28 WIB

France™s private sector unexpectedly gained speed in August as solid performance in services was complemented by a return to growth in manufacturing. IHS Markit™s Purchasing Managers™ Inde...

Empire State, Philly Fed indexes hold steady in August...
Thursday, 15 August 2019 20:03 WIB

Two gauges of manufacturing sentiment held their own in August, according to data released Thursday. The Philadelphia Fed manufacturing index fell slightly to a reading of 16.8 in August from 21.8 in...

US: Retail Sales rose 0.7% in July vs. 0.3% expected, DXY advances to 98...
Thursday, 15 August 2019 19:48 WIB

Retail sales grew by more than expected in the US in July. US Dollar Index gains traction on the back of upbeat data. According to the data released by the US Census Bureau on Thursday, retail sales...

British retail sales in July climb 3.3%, topping forecasts...
Thursday, 15 August 2019 15:48 WIB

British retail sales in July grew 3.3% compared to a year ago, according to data released Thursday. Economists polled by FactSet expected a 2.6% rise. The Office for National Statistics said both valu...

LATEST NEWS
Hong Kong stocks finish week on positive note (Review)

Hong Kong shares ended the week with a healthy rise on Friday as investors look ahead to a key speech later in the day by Federal Reserve boss Jerome Powell hoping for hints at further interest rate cuts. The Hang Seng Index jumped 0.50 percent,...

Dow closes down more than 600 points after Trump orders U.S. companies to leave China

U.S. stocks ended the trading day sharply lower after President Trump escalated trade war rhetoric Friday, tweeting that he had "hereby ordered" U.S. companies "to immediately start looking for an alternative to China. The Dow Jones Industrial...

Oil prices slide 2.1% as US-China trade war escalates

Oil prices fell on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods, marking another escalation of a protracted trade dispute between the world™s two largest economies. Brent crude futures fell 50...

POPULAR NEWS
Gold posts lowest finish in nearly 2 weeks as bond yields climb
Friday, 23 August 2019 01:36 WIB

Gold futures declined on Thursday, pressured by strength in bond yields as the Fed™s symposium of central bankers got underway in Jackson Hole,...

Gold sinks as bond yields climb
Thursday, 22 August 2019 19:49 WIB

Gold futures headed lower Thursday as bond yields edged up, dimming some of the luster from the precious metal, with the Federal Reserve's annual...

Gold Holds Drop as Traders Await Jackson Hole Meeting
Thursday, 22 August 2019 08:55 WIB

Gold held a decline as investors await a key address by Federal Reserve Chairman Jerome Powell at the annual Jackson Hole gathering on Friday...

Gold edges lower, focus on Jackson Hole summit for rate-cut direction
Thursday, 22 August 2019 15:39 WIB

Gold prices fell marginally on Thursday, lingering around the key $1,500 level, as investors awaited the Federal Reserve chair's speech at a global...