The Federal Government has a fine line to tread when it comes to next week’s Federal Budget. NAB Group Chief Economist Alan Oster explains what this might mean for Australian businesses, families and individuals.
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Our monthly transaction data suggest spending was broadly steady in March
“Our monthly transaction data suggest spending was broadly steady in March but still shows a reasonable rise across the first quarter of the year overall.”
“Retail spending appears to have declined in seasonally adjusted terms in the month, but prices may be playing a role here especially as inflation eases.”
“We know consumers remain under pressure and we expect that to show up in subdued spending through the first half of the year before easing inflation starts to more materially support real incomes later in 2024.”
For further details please see NAB Monthly Data Insights (March 2024)
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