Oil prices weaken in October but remain quite high. Attention now shifting towards the Asian economies, which have surprised markets on the downside in recent months. Near-term forecasts lifted on geo-political risk, 2013 forecasts left unchanged.
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Consumer stress is rising again with Australians wary about the outlook for the year ahead. Household pressures are set to ease but until then the mantra for many consumers appears to be, “Show me the money”!
Report
Total spending went up 0.6% m/m. Overall, total consumer spending increased 1.9% in 3-month average terms and 6.5% over the past 12 months.
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