Goldman Says Millennial Incomes Slump Most in Australia Slowdown

Australia’s ‘millennial’ households — those with people aged 29-43 years — have experienced the largest decline in their real average disposable incomes over the past two years, Goldman Sachs Group Inc. said, downgrading estimates for the country’s broader economic growth.

Real incomes per millennial household have fallen 9.4% over the past two years, marking the largest decline across any age cohort, Goldman estimates.