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The ABS today released its Household Spending Indicator for June, which revealed household spending increased 10.2% through the year in dollar terms, with both services (+15.9%) and goods (+5.0%), and discretionary (+10.8%) and non-discretionary (+9.8%) spending lifting:
Annual spending growth was solid across all jurisdictions:
According to Jacqui Vitas, head of macroeconomic statistics at the ABS:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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