Australian household spending rises 0.6% in September
Key points
- Household spending rose 0.6% in September following a revised 0.1% fall in August.
- The official data release did not impact individual stock tickers or market performance indices directly.
- The Australian Bureau of Statistics stated that increased consumer spending across transport and health categories drove the monthly rise.
Household spending rose 0.6% in September according to seasonally adjusted figures released by the Australian Bureau of Statistics.
The monthly increase followed a fall of 0.1% in August and a stronger rise of 1% in July.
“Household spending rose across essential and discretionary categories, with both transport and health rising by 1.5% and recreation and culture rising by 0.8 per cent,” said Australian Bureau of Statistics head of business statistics Tom Lay.
Fuel spending jumped 5.4% during the month due to higher global oil prices and the conclusion of fuel excise relief.
Household spending volumes continued to grow throughout the September quarter, marking four consecutive quarters of continuous economic expansion.
Transport spending grew 1.6% across the quarter to lead all nine economic spending categories higher.
Frequently asked questions
More from Australia
Australian Bureau of Statistics reports 82% AI vacancy stability
Charter Hall lease extensions increase portfolio duration
Goodman Group reports 6.6 gigawatts power bank
Battery Age Minerals restarts exploration at Suri Project
Island Pharmaceuticals starts USAMRIID pre-trial surgeries
Auckland International Airport launches bond offer of NZ$100M