Australia's Household Spending Remains Flat in August

MT Newswires Live
Sep 29

Australia's seasonally adjusted household spending remained flat at AU$82.34 billion in August, following a 1.1% increase in the previous month, the Australian Bureau of Statistics reported on Tuesday.

Three of the nine spending categories rose in August, with increases recorded in transport, hotels, cafes and restaurants, and miscellaneous goods and services.

Spending on recreation and culture recorded the largest decline, falling 1.4% after several months of increased spending linked to major sporting events, said Tom Lay, the bureau's head of business statistics.

Goods spending rose 0.3% month on month in seasonally adjusted, current price terms, driven by higher spending on motoring goods and vehicle purchases, while services spending fell 0.3%, reflecting declines in recreational and cultural services, health services and personal care.

Household spending rose in four of the eight states and territories, with the strongest increases recorded in New South Wales and Queensland.

Fuel spending rose 8.1% in August after the fuel excise duty was fully restored on Aug. 3.

Household spending on discretionary goods and services fell 0.3% month on month, while spending on non-discretionary goods and services increased by 0.6%.

Compared with the year-earlier period, household spending rose 6.8% in August.

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