Real Estate Investment:Today

More underwhelming economic data for the RBA to ponder

The latest economic data released by the ABS has revealed a continuation of the underwhelming results reported since the RBA surprisingly increased official interest rates last month for the first time in over a decade.

The ABS revealed that GDP increased by a moderate 0.8% over the March quarter – well below the 3.3% increase reported over the previous December quarter and similar to the modest pre-pandemic rates.

The GDP data also revealed that household savings levels are continuing to fall with the savings ratio over the March quarter at 11.4% – down from the 13.4% recorded over the previous quarter and the lowest result over the Covid period.

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