Household spending up 11.4% in last 12 months
Household spending continued to rise in November 2022, increasing by 11.4 per cent compared to the same time last year, according to figures released today by the Australian Bureau of Statistics (ABS).
Jacqui Vitas, ABS head of macroeconomic statistics, said that November 2022 was the 21st consecutive month of increased through-the-year total household spending, with most spending categories recording increases.
“This latest rise was less significant than previous months, as COVID-19 Delta variant impacts (such as lockdowns) eased towards the end of 2021,” Ms Vitas said.
“The highest increases were in spending in Transport (+35.8 per cent) and Hotels, cafes and restaurants (+23.8 per cent), but growth slowed in comparison to previous months.“
Furnishings and household equipment (-7.0 per cent) was the only spending category to record a fall when compared to November 2021. This was due to strong post-lockdown spending in this category in November 2021.
This line graph shows the through the year percentage changes in household spending in current price, calendar adjusted terms.
Compared to pre-pandemic November 2019, total household spending was 21.2 per cent higher, with discretionary spending (+25.9 per cent) increasing more than non-discretionary spending (+16.9 per cent).
State and Territory results
All states and territories saw increased household spending in November 2022 when compared to November 2021.
The Northern Territory (+16.1 per cent) recorded the largest increase in spending due to snap lockdown/lockouts in the territory the year before. Strong increases seen in previous months in New South Wales, Victoria and the Australian Capital Territory all softened as pandemic restrictions in these states eased from November 2021.
This bar graph shows the through-the-year change in total household spending for all the states and territories.
The indicator is produced using aggregated and de-identified card and bank transactions from banking and financial institutions.
The indicator includes nine of the 13 key divisions classified, according to the Classification of Individual Consumption by Purpose (COICOP).
The indicator is produced in current price original and current price calendar adjusted terms only.
Until the indicator is seasonally adjusted, it is advised to focus on through-the-year comparisons (e.g. November 2022 compared to November 2021).
Significant events such as the COVID-19 pandemic can lead to very strong through-the-year rises. Care should be given when comparing periods with these events.
Care should be given when comparing Household Spending Indicator estimates with other ABS products.
When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.
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