Statistician finds an extra $359 billion for Australian households

News

  • Date: 28 September 2012

A statistician, working for the government of Australia, has reportedly found A$359 billion (£231 billion) in unlisted shares that Australian households own, a huge difference in previous estimations. The Australian Bureau of Statistics yesterday released its revised report where total household savings were now at A$3.1 trillion, instead of the original amount of A$2.77 trillion.

This means that in a time of global economic crisis, when households are saving the pennies, over half of Australian households are ahead in their mortgage payments and hence lowering their debts. 

Opinions are divided as to why the Bureau quietly released these new statistics with many saying that the road to recovery is still a long one.

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