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Household spending was unchanged (0.0 per cent) in August, according to seasonally adjusted figures released today by the Australian Bureau of Statistics (ABS).
Robert Ewing, ABS head of business statistics, said: “Growth in household spending has stalled at the start of the financial year, even as the Federal government’s Stage 3 tax cuts came into effect on 1 July.”
The flat result in August followed revised falls of 0.5 per cent in July and 0.1 per cent in June.
In trend terms, spending fell for the second consecutive month, and was down 0.1 per cent in August.
Household spending, current prices
Household spending was unchanged (0.0 per cent) in August, according to seasonally adjusted figures released today by the Australian Bureau of Statistics (ABS).
Robert Ewing, ABS head of business statistics, said: “Growth in household spending has stalled at the start of the financial year, even as the Federal government’s Stage 3 tax cuts came into effect on 1 July.”
The flat result in August followed revised falls of 0.5 per cent in July and 0.1 per cent in June.
In trend terms, spending fell for the second consecutive month, and was down 0.1 per cent in August.
The post Why is Household Spending Still Flat? appeared first on Small Business Connections.
