CommBank's HSI Index for November has recorded sharp rises in transport and travel spending and increased retail activity, as consumers head into Christmas with
The CommBank Household Spending Intentions (HSI) Index for
The index - which provides an in-depth gauge of Australian consumer spending - rose 2.1 per cent during November to 110.3, driven by solid gains in spending on Transport (+21.5 per cent), Travel (+14.7 per cent), Retail (+9.6 per cent) and Household services (+9.4 per cent).
Transport spending has risen 52 per cent since the Delta lockdown low of
Retail spending has risen 21 per cent since the low point in August, with the largest gains in department stores, clothing, furniture & household equipment, electronic stores, household appliances, jewellery & watches and pet shops. In a further positive note, it looks like end-of-year celebrations have driven increased spending on cosmetics, tailors & alterations and clothing rentals.
'The CommBank HSI Index has shown a continued and broad based recovery in consumer spending since the end of lockdowns. While we have seen sharp increases in categories like transport and travel, there is still plenty of room for further growth.
'Australians have grown their savings to record levels during the pandemic. CBA estimates households have accumulated approximately
The CommBank HSI Index combines analysis of CBA payments data (the largest consumer spending data set in
Household Spending Intentions Index -
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