For a time, this increased income was used to rebuild saving, but with the household saving ratio having stabilised in recent quarters, income growth is now providing the wherewithal to fund consumption. The national accounts also showed that Australia’s GDP continues to be affected by the severe effects on mining activity of the floods over the Australian summer.
That brings me to the close of my list of ten questions and answers. Even as I have tried to be comprehensive, I am conscious that the list of questions I have raised is not exhaustive; neither are my answers complete.