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Australian Household Spending up Slightly

Household spending in Australia rose 0.1% over the past year, according to figures recently released by the Australian Bureau of Statistics (ABS).

Spending on services increased by 2.3%, driven by higher expenditures on health and other services, while spending on goods fell 2.5%, led by declines in clothing, footwear, and goods for recreation and culture.

Non-discretionary spending rose 1.8%, with significant contributions from health expenses and vehicle purchase and operation costs. Discretionary spending decreased by 1.9%, primarily due to reduced spending on clothing, footwear, and accommodation services.

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