Household spending was unchanged (0.0 per cent) in August, according to seasonally adjusted figures released today by the Australian Bureau of Statistics (ABS).
Robert Ewing, ABS head of business statistics, said: “Growth in household spending has stalled at the start of the financial year, even as the Federal government’s Stage 3 tax cuts came into effect on 1 July.”
The flat result in August followed revised falls of 0.5 per cent in July and 0.1 per cent in June.
In trend terms, spending fell for the second consecutive month, and was down 0.1 per cent in August.
| Seasonally adjusted ($m) | Trend ($m) | |
|---|---|---|
| Aug-22 | 65,636.5 | 65,429.0 |
| Sep-22 | 66,032.6 | 65,936.8 |
| Oct-22 | 67,131.9 | 66,309.0 |
| Nov-22 | 66,500.5 | 66,477.2 |
| Dec-22 | 66,278.8 | 66,640.1 |
| Jan-23 | 66,944.1 | 66,808.2 |
| Feb-23 | 67,109.8 | 67,000.2 |
| Mar-23 | 66,896.5 | 67,210.7 |
| Apr-23 | 67,823.9 | 67,433.2 |
| May-23 | 67,716.7 | 67,684.9 |
| Jun-23 | 67,652.8 | 67,990.6 |
| Jul-23 | 68,132.6 | 68,332.6 |
| Aug-23 | 68,582.3 | 68,477.8 |
| Sep-23 | 69,265.5 | 68,789.2 |
| Oct-23 | 68,845.9 | 69,057.6 |
| Nov-23 | 69,512.0 | 69,272.1 |
| Dec-23 | 68,833.7 | 69,429.5 |
| Jan-24 | 69,813.2 | 69,575.0 |
| Feb-24 | 69,929.9 | 69,732.0 |
| Mar-24 | 69,747.8 | 69,870.2 |
| Apr-24 | 69,820.7 | 69,950.7 |
| May-24 | 70,202.1 | 69,973.1 |
| Jun-24 | 70,109.7 | 69,956.9 |
| Jul-24 | 69,756.7 | 69,912.3 |
| Aug-24 | 69,729.0 | 69,869.9 |
“In August, spending on services rose 0.4 per cent, growing for the second month in a row. The rise was led by higher spending on air travel, hotel accommodation, and dining out,” Mr Ewing said.
“Growth was offset by a 0.3 per cent fall in spending on goods, as households spent less on new vehicles and automotive fuel.”
Household spending rose in most states and territories compared to the same time last year in calendar adjusted terms.
The largest percentage rises were seen in Western Australia (3.9 per cent), Queensland (2.7 per cent) and the Northern Territory (1.9 per cent), while Victoria and Tasmania fell 0.3 per cent.
| Jun-2024 | Jul-2024 | Aug-2024 | |
|---|---|---|---|
| NSW | 4.5 | -0.1 | 0.7 |
| Vic. | 3.9 | 0.8 | -0.3 |
| Qld | 4.9 | 3.8 | 2.7 |
| SA | 3.3 | 1.4 | 1.8 |
| WA | 6.1 | 6.4 | 3.9 |
| Tas. | 2.2 | 0.9 | -0.3 |
| NT | 3.9 | 3.3 | 1.9 |
| ACT | 4.4 | 2.1 | 0.6 |
