Household spending grew in November, buoyed by Black Friday
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The news: Household spending rose 0.4% in November, boosted by Black Friday sales, according to new figures by the Australian Bureau of Statistics (ABS).
The numbers: The rise followed growth of 0.9% in October and a 0.2% fall in September.
Six out of the nine spending categories rose in November, mostly driven by Black Friday sales.
Recreation and culture spending grew by 0.9%, making it the largest contributor to overall spending growth. Spending in cinemas continued to grow strongly, with major releases such as Wicked, Gladiator II and Moana 2 all opening in November.
Spending on clothing and footwear and furnishings and household equipment also rose by 1.8% and 0.8% respectively, driving the 0.4% rise in discretionary spending.
Strength in new vehicle purchases also contributed to higher discretionary spending, the ABS said, with the Federal Chamber of Automotive Industries reporting a notable rise in SUV sales in November.
Household spending grew in most states and territories. The highest percentage rises were seen in Queensland (0.7%), Victoria (0.5%), South Australia (0.5%) and Western Australia (0.5%), while the Australian Capital Territory and Tasmania fell 0.4% and 0.2% respectively.
The source: ABS
