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1. The ABS’ nominal household spending indicator (HSI) rose +0.8% m/m and +6.0% y/y in June. Nominal spending grew +1.3% q/q in Q2.
2. Discretionary spending captured by the HSI rose +1.2% m/m in June and +1.7% q/q in Q2.
In June, discretionary spending was driven by increased spending on recreation & culture (+1.4% m/m) and transport (+3% m/m). The latter was boosted by strong new vehicle sales and recovering air travel bookings.
The ABS noted that recreation & culture spending was supported by strength in electronic goods, performing arts & other live entertainment and gambling (probably related to the World Cup).
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