EWA - EWA: Australia Is Another Developed Economy Worth Considering

• Australia is another developed economy that investors should consider for diversification away from a US-centric portfolio.
• Households can draw on a high savings rate to spur new spending. The average savings rate is well above pre-pandemic levels.
• The country's commodity-focus will drive growth as long as inflation fears dominate headlines.
• Wage growth is starting to tick up, but it is still at a historically low level. The lack of wage inflation is a boon for corporate profits.

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