Stronger-than-expected household spending in Australia
Updated
There is new evidence that Australian consumers are remaining resilient in the face of higher interest rates and food prices.
Figures from the Bureau of Statistics show 0.7 per cent more was spent at retail outlets in May than the month before.
Some economists have played down the stronger-than-expected figure, saying the overall trend is still one of subdued consumer spending.
But ANZ economist, Katie Dean, says it may be that household spending is not slowing as abruptly as the Reserve Bank believes.
"Overall we can't get away from the fact that most of the categories of retail sales were actually quite strong," she said.
"So we would say that this is a sign that households are actually proving to be a little bit more resilient than perhaps we previously thought."
