Over the past three years, company profits have far outstripped wage growth
The GDP figures for the December quarter of 2018 to be released on Wednesday will be the last set of national accounts to become available before the federal election. They represent the last chance for the prime minister and the treasurer to suggest people are better off now than they were either at the last election or when the Coalition took power in September 2013, and they arrive at a time when the economy looks to be slowing.
The week before the release of the GDP figures always contains a mass of new data, most of which feeds into the national accounts. As ever, the picture is not abundantly clear – there are some good signs, but overall it looks like the economy is slowing. And worse, the areas where it is slowing suggest households are unlikely to see any real pick-up in their income.
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