Following the release of the Q3 ABS Household Spending data, which revealed a growth of just 0.2% in inflation-adjusted terms for the quarter, concerns began to mount that the third-quarter GDP figure could be weak.
After being supported by solid quarterly growth in aggregate household spending in the prior three quarters, this concern was well grounded in fact.
In per capita terms, it was quite a different story, with spending contracting on this metric for the quarter.
Advertisement
