Consumer spending has been surprisingly resilient in Australia over the past year. In 2017/18, real consumer spending rose 2.8 per cent, the strongest gain in six years and a marked turnaround from the below-trend 2.3 per cent average pace recorded between 2012/13 to 2016/17.
The pick-up in growth has been most evident in goods consumption, which strengthened to over a 4 per cent annual pace in September 2018, due to increased spending on food, clothing, furnishings and recreational goods.
The latest piece from our economics team examines the Outlook for the Australian Consumer.
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