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Family spending surges in September

Byjobz786.com

Nov 12, 2023

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Family spending was 4.9% increased in comparison with the identical interval final 12 months, in line with new ABS figures.

“Spending on transport remained excessive in September, rising 18.4% over the 12 months,” stated Robert Ewing (pictured above), ABS head of enterprise statistics. “This contributed to a 9.2% rise in spending on non-discretionary items and companies, with households spending extra on gasoline in addition to meals and well being companies.

“In distinction, discretionary spending rose 0.3% over the 12 months. Much less spending on discretionary items like furnishings has been offset by elevated spending on discretionary companies like recreation and tradition.”

Along with elevated spending on transportation, the general progress in family spending in comparison with the identical interval final 12 months was pushed by increased expenditures within the classes of well being (+10.1%), meals (+4.2%), and lodges, cafes, and eating places (+3.4%).

Family spending elevated in all states and territories in comparison with the identical interval final 12 months.

Western Australia skilled the largest enhance in spending (+9.5%), pushed by transport (+21.9%) and well being (+15.2%).

When evaluating month-on-month, Victoria was the one state or territory to report a better progress fee in spending in September. In distinction, the Northern Territory had the largest decline in progress, falling from +5.3% in August to +0.5% in September, ABS reported.

Learn Aussie households spent extra in August – ABS to know the way a lot Australians have spent within the earlier month.

Entry the Month-to-month Family Spending Indicator.

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