Australia Consumer & Retail Q1 2019
We maintain a broadly positive consumer outlook for Australia in 2019, stemming from a pick up in economic growth inH118 which was the result of positive labour market momentum, including stronger wage growth. Market sentiment is alsoimproving, with retail sales picking up in line with rising consumer confidence. We do however caution that high levels of householddebt and a low savings rate pose downside risks to Australian consumer over the longer term.
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