Economic Buzz: Australia household spending surges 1.1% in July

Australia?s household spending rose 1.1% month-on-month in July, accelerating from a revised 1.0% gain in June. Growth was broad-based across all spending categories and every state and territory, with clothing, recreation, health, and miscellaneous goods among the strongest performers. On an annual basis, household spending jumped 7.0%, up from 6.1% in June, marking its fastest growth since June 2023 and signalling robust consumer demand.

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