Household spending continues to grow with July data showing a third straight month of increases.
Australian Bureau of Statistics (ABS) figures showed household spending rose 0.5 percent in that month and followed rises of 0.3 percent in June and 1 percent in May.
ABS Head of Business Statistics Robert Ewing said Household spending had now gone up nine times in the past 10 months.
“Household spending is 5.1 percent higher than the same time last year,” Mr Ewing said.
“This is the highest annual growth since November, 2023.”
He said households spent more on health services, hotel accommodation, air travel, and dining out during July, which contributed to a 1.6 percent rise for Services spending.
“In contrast, Goods spending fell 0.3 percent after mid-year sales boosted spending by 0.9 percent in June.”
