Hot or Not? Strong Spending Complicates Rate Picture

Hot or not? Strong spending complicates rate picture

Upcoming data will give the Reserve Bank a better sense of whether higher interest rates are required to take the heat out of Australia's economy.

Household spending staying strong, latest ABS figures show

The demand for furniture is leading strong household spending figures, according to the latest ABS data. Photo: Thomas Lucraft. Household spending is up across Australia, with the latest figures showing a 6.3 per cent overall jump from a year ago. Furnishings and household equipment (particularly whitegoods), clothing and footwear, and recreation and culture have led the spending growth over the past few months. The Australian Bureau of Statisti…