Australian household spending rises 1.1 percent in July
Australian household spending increased for the third consecutive month in July, rising 1.1 percent to 82.34 billion Australian dollars. The data shows resilient consumer demand despite rising borrowing costs, with annual growth hitting 7 percent.
Australia household spending rose 1.1% to A$82.34 billion ($59.13 billion) in July, marking three consecutive months of gains. The increase surpassed expectations following a 1% expansion in June. Annual spending growth accelerated to 7%, reaching its highest pace since June 2023.
