Australia's household spending rose by 0.4% in November 2024, according to seasonally adjusted data released today by the Australian Bureau of Statistics.
This follows a 0.9% increase in October and a 0.2% decrease in September 2024.
Six out of nine spending categories saw gains in November 2024, largely attributed to Black Friday sales.
Robert Ewing, ABS Head of Business Statistics, highlighted that "Black Friday drove a 0.9% increase in recreation and culture, the largest contributor to overall spending growth. Cinemas saw continued strong performance, with major movie releases such as Wicked, Gladiator II, and Moana 2 all premiering in November 2024."
Spending on clothing and footwear rose by 1.8%, while Furnishings and Household Equipment increased by 0.8%.
Growth in these categories helped fuel the 0.4% rise in discretionary spending.
Additionally, a boost in new vehicle purchases, particularly in SUVs, contributed to the rise, with the Federal Chamber of Automotive Industries reporting strong sales in November.
Household spending growth was seen across most states and territories, with the largest increases in Queensland (+0.7%), Victoria (+0.5%), South Australia (+0.5%), and Western Australia (+0.5%).
However, the Australian Capital Territory and Tasmania recorded declines of 0.4% and 0.2%, respectively.