Australian household spending rose 0.3% in February
Spending on goods rose 0.1 per cent in February
Add BT as a preferred source
[SYDNEY] Australian household spending rose for a second month in February driven by demand for food, travel and concerts, data showed on Tuesday, though that preceded a global spike in energy costs that will distort consumption for some time to come.
Data from the Australian Bureau of Statistics showed its monthly household spending indicator (MHSI) rose 0.3 per cent in February to A$79.12 billion (S$70.4 billion), following a matching increase the previous month. Analysts had generally looked for a rise of around 0.2 per cent.
Spending on goods rose 0.1 per cent in February led by food, medicines, medical aids, and goods for recreation and culture, the ABS said. Spending on services rose 0.5 per cent, driven by recreational and cultural services, air passenger and sea transport, and accommodation. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
DBS completes US$1 billion significant risk transfer deal, in first for Singapore bank
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Singapore private housing is ‘decoupling’ from HDB market as buyer pools diverge: NUS survey
Not in education, employment or training: Why more Hong Kong youths are opting out of work
