The persevering with story of the economic system is how income maintain going up whereas wages go nowhere quick. It is driving enterprise’ share of nationwide revenue up and up.
Immediately’s nationwide accounts knowledge for the quarter and 12 months to June 30 is especially of historic curiosity, notably given the Reserve Financial institution has punished households with 2.25 proportion factors of fee rises since Could, which means the present 12 months could also be very totally different.
The economic system grew 0.9% within the three months to June, and three.6% 12 months on 12 months.
One essential enter to the GDP quantity, nevertheless, is of greater than historic curiosity. The wage share of complete revenue fell to a different file low within the June quarter: simply 48.5%.
