This changed our assessment of the consumption outlook. The momentum was not as strong as https://www.rba.gov.au/speeches/2019/sp-dg-2019-08-15.html  5/10  8/15/2019  Risks to the Outlook | Speeches | RBA  previously thought, which was further confirmed with slow growth in consumption in the December and March quarters (Graph 4). Graph 4  What has been weighing on consumption?
A primary cause has been the slow pace of growth in household disposable income, that is, income after tax. Household income growth has been low for a number of years now. This is despite strong employment growth and clearly reflects the slow wages growth. As households have come to expect that this slow wages growth will persist, they have constrained their spending plans.