Household spending flat in August
Household spending was unchanged (0.0 per cent) in August, according to seasonally adjusted figures released today by the Australian Bureau of Statistics (ABS).
Robert Ewing, ABS head of business statistics, said: “Growth in household spending has stalled at the start of the financial year, even as the Federal government’s Stage 3 tax cuts came into effect on 1 July.”
The flat result in August followed revised falls of 0.5 per cent in July and 0.1 per cent in June.
In trend terms, spending fell for the second consecutive month, and was down 0.1 per cent in August.
“In August, spending on services rose 0.4 per cent, growing for the second month in a row. The rise was led by higher spending on air travel, hotel accommodation, and dining out,” Mr Ewing said.
“Growth was offset by a 0.3 per cent fall in spending on goods, as households spent less on new vehicles and automotive fuel.”
Household spending rose in most states and territories compared to the same time last year in calendar adjusted terms.
The largest percentage rises were seen in Western Australia (3.9 per cent), Queensland (2.7 per cent) and the Northern Territory (1.9 per cent), while Victoria and Tasmania fell 0.3 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.
- The ABS plans to expand its suite of seasonally adjusted estimates in the coming months. In the meantime, it is advised to focus on calendar adjusted annual comparisons for State/territory and spending category estimates.
- When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.
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