Australia's Household Spending Rise in January

MT Newswires Live
03/05

Australia's seasonally adjusted household spending rose 0.3% to AU$78.98 billion in January, following a 0.5% decrease in the previous month, the Australian Bureau of Statistics reported on Thursday.

Five of the nine spending categories rose in January, led by miscellaneous goods and services, health, and transport.

Service spending rose 1%, led by other services including digital streaming and travel agencies, while goods spending fell 0.3% amid declines in motor vehicle purchases and recreation and culture items.

"Essential spending rose 0.8% and was driven by health services and spending on motor vehicle repairs and maintenance," said Tom Lay, the bureau's head of business statistics.

Household spending rose in five of the eight states and territories in January, with Tasmania posting the largest percentage gain and New South Wales seeing the biggest increase in dollar terms.

Household spending on discretionary goods and services rose 0.1% month on month, led by other services, air and sea transport, and personal effects, while spending on non-discretionary goods and services increased 0.8%.

Compared with the year-earlier period, household spending rose 4.6% in January.

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