We’re still happy to save up for major sporting events and movies, but we’re spending more on things we ‘probably don’t like spending more money on’.
Australians are keen to put their cash towards big events such as the FIFA Women’s World Cup, but are continuing to pull back on household goods and services spending in an attempt to balance their budgets.
The bank puts the August jump down to a late rush for World Cup tickets, with the group’s chief economist, Stephen Halmarick, saying consumers are still prioritising big movies and sports events in their budgets. Meanwhile, spending on household goods and services has stayed weak throughout this year, even though both categories were slightly stronger in August.
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