Australian households splashed out on new cars and dining out at the end of last year, as spending rose for the third straight month.
The latest Australian Bureau of Statistics (ABS) data, released today, shows household spending rising by 0.4 percent in December.
ABS Head of Business Statistics Robert Ewing said this followed a 0.8 percent rise in November and a one percent rise in October.
Mr Ewing said five of the nine spending categories saw growth in December, primarily fuelled by higher spending on discretionary goods and services, which jumped 0.6 percent.
“The growth in December was driven by new vehicle purchases, dining out, air travel, and streaming services,” he said.
“Continued strength in clothing and footwear, furnishings and household equipment, and goods for recreation and culture also contributed to higher discretionary spending.”
Mr Ewing said consumers capitalised on the end-of-year sales season, driving a sustained rise in spending to finish 2024.
He said household spending grew in all states and territories, with the highest percentage rises seen in Western Australia (+0.7 percent), Tasmania (+0.5 percent) and the Northern Territory (+0.5 percent). Queensland (+0.2 percent) experienced the smallest rise.
