Australia's Consumer Spending Slows in June

MT Newswires Live
07-15

Australia's consumer spending rose 0.9% in June, easing from May's 1.2% gain, according to a Monday report by National Australia Bank (ASX:NAB).

Retail spending grew 0.9%, led by a 1.1% rise in goods purchases, while discretionary spending climbed 1.1% in the month, the report said.

The bank said consumer spending rose 2.1% in the June quarter, though momentum was weaker than previously expected.

NAB expects a 0.3% rise in real consumption in the second-quarter gross domestic product data.

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