14.11.201720:46:00UTC+00Australia Wage Prices Rise 0.5% In Q3

Australia's wage price index climbed a seasonally adjusted 0.5 percent on quarter in the third quarter of 2017, the Australian Bureau of Statistics said on Wednesday.

That was unchanged from the three months prior, although it mossed expectations for a gain of 0.7 percent.

The rises in indexes at industry level ranged from 0.2 percent for mining to 1.8 percent for accommodation and food services.

On a yearly basis, wage prices advanced 2.0 percent - again shy of forecasts for 2.2 percent but up from 1.9 percent in the previous three months.

The private sector gained 0.5 percent on quarter and 1.9 percent on year, while the public sector gained 0.5 percent on quarter and 2.4 percent on year.

Gains in the index through the year to the September quarter 2017 at the industry level ranged from 1.2 percent for mining to 2.7 percent for health care and social assistance, and arts and recreation services.

Also on Wednesday, the latest survey from Westpac Bank showed that consumer confidence in Australia weakened in November.

The Westpac Consumer Confidence Index sank 1.7 percent on month in November to a score of 99.7 - moving below the key line of 100 that separates optimists from pessimists.

That follows the 3.6 percent surge in October, when the index jumped to 101.4.