Australian Bureau of Statistics (ABS) has updated that the household spending has increased 7.9% in May 2022 compared to the previous corresponding period. For goods, household spending increased 5.7% and for services was 10.2%. Both discretionary and non-discretionary spending increased 6.8%. through the year.
All states and territories noted growth in household spending in May 2022 compared to the May 2021. Queensland by 10.4%, South Australia by 10.4% and Victoria by 9.1%. It was the strongest increases in spending through the year.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
