ONLY CHARTS #339
Aus FWC decision, Aus Q1 GDP partials, NZ Q1 goods trade, Aus visa holders & grants
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1. Australia’s Fair Work Commission decided to lift the National Minimum Wage and award wages by 3.5% from 1 July this year. The key justification given for the decision was to provide some real wage catch-up.
2. Partial indicators point to Australia’s Q1 GDP having risen by around +0.3% q/q (our expenditure-based estimate is softer). The RBA had pencilled in around +0.4% q/q in the May SMP.
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