Household spending increased for the 21st consecutive month in November, rising by 11.4% compared to the same period last year, latest ABS figures showed.
“This latest rise was less significant than previous months, as COVID-19 Delta variant impacts (such as lockdowns) eased towards the end of 2021,” said Jacqui Vitas (pictured above), ABS head of macroeconomic statistics. “The highest increases were in spending in transport (+35.8%) and hotels, cafes and restaurants (+23.8%), but growth slowed in comparison to previous months.”
Furnishings and household equipment was the only category to record a fall in spending, slipping -7% from November due to strong post-lockdown spending in this category in that month in 2021.
Total household spending was up 21.2% compared to pre-pandemic November 2019, with discretionary spending (+25%) increasing more than non-discretionary spending (+16.9%), ABS reported.
All states and territories posted a rise in household spending in November compared to the same month the prior year, with the Northern Territory (+16.1%) recording the largest increase due to snap lockdown/lockouts in the territory in 2021.
Meanwhile, strong increases seen in previous months in NSW, Victoria, and the ACT all eased as pandemic restrictions in these states lifted from November 2021.
What do you think about the continuing increase in household spending? We’d love to hear from you in the comments below.
