NAB specialists and clients from across the bank’s Fund Sponsors, Strategic Investors and Alternative Assets (FSA) business gathered over lunch recently to share career stories and advice on promoting greater diversity and inclusion.
October 9, 2024
NAB Economics Monthly Data Insights – September 2024
Total spending decreased 0.3% in September.
Overview
- Consumer spending, according to NAB’s transaction data, declined 0.3% after rising 0.9% last month.
- Discretionary spending was broadly flat while spending in non-discretionary categories declined 0.8%.
- Overall, consumer spending increased 0.9% in 3-month average terms and 3.2% over the past 12 months.
- Business credits grew 0.4% m/m. Overall, business credits increased by 6.8 % over the past 12 months, or 8.5% excluding mining and agriculture.
Monthly Consumer Spending
- Total spending decreased 0.3% in September. Overall, total consumer spending increased 0.9% in 3 month average terms and 3.2% over the past 12 months.
- Retail spending also went down 0.6%, with matching decreases in both goods retail and cafes & restaurants.
- Spending on vehicles & fuel and essential services decreased 2.1% and 0.3% respectively while other spending went up 1.1%.
- Total spending on goods declined 0.8% and spending on services increased 0.3%. Discretionary spending was unchanged, but there was a decline of 0.8% in non-discretionary spending.
For further details please see NAB Monthly Data Insights (September 2024)
