Australia household spending flat in August, annual growth 6.8%
Australian Bureau of Statistics monthly household spending indicator was unchanged at A$82.3 billion. Analysts expected 0.3% growth after July's 1.1% rise.
SYDNEY, Sept 29 (Reuters) — Australian household spending was flat in August as consumers cut back on everything from food to clothing and culture, data showed on Tuesday, while they forked out more for fuel. 71 billion). 1% jump in July. 8%, showing resilience to higher borrowing costs.
The strength of consumption is one reason the Reserve Bank of Australia is expected to raise interest rates for a fourth time this year later on Tuesday. net)