Australian household spending continued to rise in November 2022, up 11.4% on the same time last year, according to figures released today by the Australian Bureau of Statistics.
Despite it being the 21st consecutive month of increased household spending, ABS head of macroeconomic statistics Jacqui Vitas said the latest rise was less significant than previous months as Australia cycles eased COVID-19 restrictions in late 2021.
“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,” Vitas said.
Clothing and footwear spending growth sat at just 2.4% in November 2022 compared to the same time last year, which is a drop from nearly 70% spending growth in September 2022.
Furnishings and household equipment was the only spending category to record a fall when compared to November 2021, at -7.0%. This was due to strong post-lockdown spending in this category in November 2021.
Compared to November 2019 (pre-pandemic), total household spending was 21.2% higher, with discretionary spending (up 25.9%) increasing more than non-discretionary spending (up 16.9%).
Across the states and territories, all jurisdictions saw increased household spending in November 2022 when compared to November 2021.
The Northern Territory recorded the largest increase in spending (up 16.1%) due to snap lockdown/lockouts in the territory the year before.
Strong increases seen in previous months in New South Wales, Victoria and the Australian Capital Territory all softened as pandemic restrictions in these states eased from November 2021.
For clothing and footwear in particular, the NT saw the largest increase in spending for November 2022 at 30%, with New South Wales and Tasmania reporting falls of -1.6% and -9.7% respectively.
