Australian Household Spending May 2025 +4.2% y/y (anticipated +3.5%), +0.9% m/m (exp +0.5%)

Australian Household Spending for May 2025

+4.2% y/y

• expected +3.5%, prior +3.8%)

+0.9% m/m

• expected + 0.5%, prior 0.0%

The Australian Bureau of Statistics says:

• ‘The rise in May was driven by spending on discretionary goods and services.
  ‘Discretionary spending rose 1.1 per cent, as households spent more on clothing and footwear, new vehicles, and dining out.
• ‘Meanwhile, non-discretionary spending was up 0.5 per cent, rising for a fifth consecutive month.’

AUD/USD is barely changed after the data.

Earlier:

• Reuters poll: 31 of 37 economists expect cut to RBA cash rate by 25bp next week

This article was written by Eamonn Sheridan at www.forexlive.com.