What They Don’t Tell You About Household Spending!

Today we got the latest data from the ABS relating to Household Spending . Overall, the story continues, with households spending more on things they must buy, and less on things they choose to buy. And importantly Household consumption did not deliver the expected strength in the GDP data yesterday as many households remain under financial pressure. Not surprising given the lack of real income growth and higher interest rates and while real GDP increased 0.8% in the quarter, so did total hours worked meaning that the growth in GDP per hour worked – otherwise known as productivity – was […]