Wednesday, October 14, 2009

New figures: we're clawing back wealth

From CommSec

"Federal Treasury’s Modellers’ Database shows that Australia’s private sector wealth stood at $4,894 billion as at the end of June 2009, up 4.0 per cent over the quarter. It was the first increase in wealth in 18 months and the biggest increase in five years.

"CommSec estimates that per capita wealth stood at $223,400 as at the end of June, up $7,400 over the quarter. However over the year wealth has fallen by around $12,500 or 5.3 per cent. Wealth peaked at $250,055 in December 2007.

Unfortunately no detailed break-up is provided of the quarterly wealth figures calculated by Federal Treasury."