Australians Are Spending More Than They Are Earning
Channel: Daily Insight
Date: 2018-09-10

It’s official. Australian households are now spending more than they are earning. Consumer spending has been outpacing household disposable income in a process labelled as “dis-saving”. This isn’t a new phenomenon – it’s actually been going on since 2014. On average, people have been whittling away at their savings that they had so prudently built up in the years following the Global Financial Crisis of 2008. This dis-saving phenomenon could also mean that people have been getting into too much debt and using these extra funds to spend more than they earn. Now that house prices are falling, it’s a bit of a double whammy for the average Australian. Reduced savings could be at least somewhat supported by an increase in house prices. But now that both are in decline, it could spell big trouble for the Australian economy.

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