Strong growth in goods lifts household spending
Household spending rose 1.3 per cent in October, according to seasonally adjusted figures released today by the Australian Bureau of Statistics (ABS).
This follows a 0.3 per cent rise in September and is the biggest increase since January 2024. Household spending is now 5.6 per cent higher than the same time last year.
Tom Lay, ABS head of business statistics, said: ‘Discretionary spending surged this month led by goods as promotional events saw households spend more on clothing, footwear, furnishings and electronics following months of weaker spending in these categories.
‘Services spending also rose in October, as major concerts and cultural festivals drove up demand for catering, hospitality and hotel stays in major cities.’
All nine spending categories rose in October. The biggest rises were in Clothing and footwear (+3.5 per cent), Furnishings and household equipment (+3.0 per cent) and Hotels, cafes and restaurants (+2.2 per cent).
In annual terms, Miscellaneous goods and services (+9.4 per cent) and Health (+7.5 per cent) had the largest growth rates in the 12 months to October.
Services spending was 6.4 per cent higher than October 2024, while Goods spending was up 4.9 per cent compared with last year.
Household spending grew in seven of the eight states and territories.
New South Wales (+1.6 per cent) and Queensland (+1.5 per cent) had the largest percentage rises.
Tasmania was the only state where spending fell (-0.1 per cent).
Media notes
- The indicator is produced using aggregated and de-identified card transactions from banks, supermarket scanner data, and motor vehicle sales data from the Federal Chamber of Automotive Industries and Electric Vehicle Council.
- The indicator includes nine of the 13 key divisions which are classified according to the Classification of Individual Consumption by Purpose (COICOP).
- Care should be given when comparing Household Spending Indicator estimates with other ABS products. See the Methodology page for further information.
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