Australia Household Spending Shows Some Positive Signals
Dow Jones
Yesterday
0308 GMT - Australia's August household spending data includes positive signals for shares of companies, including car dealer Eagers Automotive, Morgans analysts say. They point out that transport was the strongest spending category for the month. While this includes fuel, they tell clients in a note that sales of new vehicles also contributed, supported by demand for electric vehicles. Elsewhere, they see consumers still willing to spend on food, hotels, cafes and restaurants. They see this as positive for fast-food store operators Collins Foods and Guzman Y Gomez and supermarket operators Woolworths and Coles.
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