Australian economy beats expectations.

[Sandgroper]

Australian economy beats expectations with 3.1% annual GDP growth.

The Australian economy has beaten expectations, with very strong 1 per cent growth in the first quarter driving a 3.1 per cent annual increase in GDP.

Not as good as during the boom years but still reason to be pleased, just this week had our employment agreement signed off for the next 3 years 4% pay rise per year as well as incremental increases happy days.

[starlight7]

Plenty of building going on which is always a good sign that the economy is going ok.

[Toots]

11 hours ago, starlight7 said:

Plenty of building going on which is always a good sign that the economy is going ok.

That's all well and good but wages for the average Joe are not keeping up with the sky high cost of living.  

 

[Parley]

22 hours ago, Toots said:

That's all well and good but wages for the average Joe are not keeping up with the sky high cost of living.  

 

What sky high cost of living.

Inflation has been very low for years and years.

Other than housing, everything is quite cheap these days.

[Toots]

16 minutes ago, Parley said:

What sky high cost of living.

Inflation has been very low for years and years.

Other than housing, everything is quite cheap these days.

You are one of the many lucky ones if you are cruising along.   There are plenty of families really struggling to make ends meet.  High power/heating bills - the price of meat has gone up so much over the past couple of years  (that doesn't bother me as I don't eat it)  the cost of internet and a good few other things.  I talk with a lot of people when I'm doing my voluntary work and many of them are not finding it easy at all - especially renters.

I also think the price of 'stuff' - especially clothes in the well known department stores - is poor quality for a high price.

[Parley]

Competition has never been higher.

The official stats prove that overall inflation is very low worldwide and has been for a very long time.

Prices of most things are far cheaper than a few decades ago, clothes food, electronics, cars etc.

Of course anyone will struggle if they don't have a job.

Housing is the exception as I noted which does cause problems for some people.

[Toots]

7 minutes ago, Parley said:

Competition has never been higher.

The official stats prove that overall inflation is very low worldwide and has been for a very long time.

Prices of most things are far cheaper than a few decades ago, clothes food, electronics, cars etc.

Of course anyone will struggle if they don't have a job.

Housing is the exception as I noted which does cause problems for some people.

You sound like one of our politicians Parley.

  A lot of the people I meet who are struggling do have a job.  

Yes electronics and clothes are cheaper but a lot of them are not made to last.  We bought a new fridge freezer before we moved to Tassie - I wonder how long it will last.  Our old one was nearly 30 years old and was still going strong.  Things were of a far higher quality a few decades ago.