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1. The ABS’ Household Spending Indicator (HSI) for Australia fell 0.4% m/m in December in nominal terms following strong growth in the prior 2 months. The HSI rose +5% y/y in nominal terms.
This indicator covers nearly two-thirds of total national accounts household consumption and is based on bank transactions, supermarket scanner data and motor vehicle sales.
2. Excluding alcohol & tobacco, nominal growth in the HSI was ~0.9ppts stronger over the year to December.
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