New Market Study, "Australia Food & Drink Report Q3 2014", Has Been Published
With job market weakness finally showing up in Australia's headline unemployment rate, we believe that private consumption growth will show significant weakness in 2014. The soft job market will weigh on wage growth, and together with high levels of household debt - at 94.4% of GDP as of end-2013 - households could begin deleveraging. While we project private consumption growth to slow to 1.3% in 2014, from an estimated 1.5% in 2013, we highlight that there is a possibility that...
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