Household spending rose 0.4 per cent in December, according to seasonally adjusted figures released today by the Australian Bureau of Statistics (ABS).
This follows a 0.8 per cent rise in November and a 1.0 per cent rise in October.
Five of the nine spending categories saw growth in December, primarily fuelled by higher spending on discretionary goods and services.
Robert Ewing, ABS head of business statistics, said: "Household spending on discretionary goods and services rose 0.6 per cent, which was the third straight monthly rise.
| Monthly (%) | Through the year (%) | |
|---|---|---|
| Dec-23 | -1.1 | 4.6 |
| Jan-24 | 1.9 | 4.7 |
| Feb-24 | -0.2 | 4.4 |
| Mar-24 | -0.7 | 3.8 |
| Apr-24 | -0.2 | 2.4 |
| May-24 | 0.8 | 3.6 |
| Jun-24 | 0.1 | 3.6 |
| Jul-24 | -0.4 | 2.6 |
| Aug-24 | 0.7 | 2.5 |
| Sep-24 | -0.4 | 0.8 |
| Oct-24 | 1.3 | 3.5 |
| Nov-24 | 0.9 | 2.8 |
| Dec-24 | 0.6 | 4.6 |
"The growth in December was driven by new vehicle purchases, dining out, air travel, and streaming services.
"Continued strength in clothing and footwear, furnishings and household equipment, and goods for recreation and culture also contributed to higher discretionary spending.
"Consumers have capitalised on the end-of-year sales season, driving a sustained rise in spending to finish 2024."
| Oct-2024 (%) | Nov-2024 (%) | Dec-2024 (%) | |
|---|---|---|---|
| Food | 0.4 | 0.8 | 0.0 |
| Alcoholic beverages and tobacco | -0.7 | 0.2 | -0.8 |
| Clothing and footwear | 1.5 | 2.4 | 1.0 |
| Furnishings and household equipment | 0.9 | 1.4 | 0.8 |
| Health | 0.8 | 0.6 | -0.8 |
| Transport | 0.9 | 0.8 | 1.1 |
| Recreation and culture | 1.9 | 1.3 | -0.5 |
| Hotels, cafes and restaurants | 1.3 | 0.7 | 0.9 |
| Miscellaneous goods and services | 1.1 | -0.5 | 1.6 |
| Total | 1.0 | 0.8 | 0.4 |
Spending growth was balanced across both goods and services in December, with goods spending up 0.4 per cent, while services rose 0.3 per cent.
Household spending grew in all states and territories. The highest percentage rises were seen in Western Australia (+0.7 per cent), Tasmania (+0.5 per cent) and the Northern Territory (+0.5 per cent), while Queensland (+0.2 per cent) experienced the smallest rise.
| Oct-2024 (%) | Nov-2024 (%) | Dec-2024 (%) | |
|---|---|---|---|
| NSW | 1.2 | 0.8 | 0.4 |
| Vic. | 1.1 | 0.7 | 0.3 |
| Qld | 0.6 | 1.0 | 0.2 |
| SA | 1.4 | 1.0 | 0.3 |
| WA | 0.7 | 0.9 | 0.7 |
| Tas. | 0.8 | 0.3 | 0.5 |
| NT | 1.2 | 0.7 | 0.5 |
| ACT | 1.0 | 0.0 | 0.4 |
Today's release also includes quarterly household spending volumes, which are adjusted for inflation.
Household spending volumes were 1.4 per cent higher in the December 2024 quarter than the same time last year in original terms.
Furnishings and household equipment (+5.3 per cent), miscellaneous goods and services (+3.9 per cent) and transport (+3.0 per cent) had the largest annual rises, while alcoholic beverages and tobacco fell 12.2 per cent.
