NAB client Zenith Energy’s innovation is helping decarbonise the mining sector through providing efficient hybrid generation solutions in remote areas.
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)
