CommBank Household Spending Insights September 2023

The CommBank Household Spending Insights (HSI) index for September 2023 rose by 0.5%/mth in seasonally adjusted terms, to 137.4. This was the same monthly increase as the revised outcome for August. Gains in September were led by Hospitality (fast food and restaurants), Food & beverage goods (liquor stores), Transport (higher fuel prices) and Education. It is worth noting, however, that 5 of the 12 spending categories saw declines in September, including Recreation (travel agents and ski fields), Utilities (government rebates at work), Health, Household services and Household goods. In this podcast, Stephen Halmarick, Chief Economist and Belinda Allen, Senior Economist discuss the September results and how recent resilience in household spending could impact the RBA.

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