The Turnbull government can afford to breathe a sigh of relief.
Its standing in opinion polls may have slumped, but figures due later week look set to show a solid rebound in economic growth during the final three months of 2016.
New data shows company profits soared 20.1 per cent in the December quarter - the biggest quarterly jump in more than 15 years - raising the views of economists ahead of Wednesday's release of the Australia's latest growth rate.
The recovery after the September quarter's shock economic contraction means Australia has avoided a feared recession and remains on course to complete 26 years of uninterrupted expansion, beating by the end of 2017 the present record held by the Netherlands.
However, not all business figures are rosy with another gauge of wages growth showing one reason why voters are unhappy with the government.
Wages and salaries fell 0.5 per cent in the December quarter for a meagre one per cent increase over the year.
"Unless we continue to drive our economy forward with growth, then the thing that is most concerning Australians - 'were not earning enough' - that will not be solved," Treasurer Scott Morrison told Ray Hadley on radio 2GB.
"We are so focused on that issue, I can't stress it more strongly."
The sharp jump in profits was in contrast to last week's disappointing construction and investment figures for the same quarter.
New Grattan Institute research argues Australia's low investment environment risks "economic stagnation".
It says Australia has experienced its biggest five-year fall in mining investment, while non-mining investment as a share of gross domestic product is around a 50-year low.
It says the Turnbull government's plan to reduce the company tax rate from 30 per cent from 25 per cent would help lure foreign investment to Australia.
The cost though would hit the budget immediately while the benefits won't be seen for years.
The institute's Jim Minifie says pursuing company tax cuts on their own before the budget is on a clear path to surplus risked future living standards.
Shadow treasurer Chris Bowen seized on the report, saying the institute's work made it clear company tax cuts should only pursued as part of a broader tax reform package.
"As it stands, the government's company tax cuts are left to be paid for by middle-income earners paying higher marginal tax rates through bracket creep," he told AAP.
Debate on the government's 10-year plan to incrementally reduce the business tax rate is scheduled to resume in the House of Representatives this week.
