Spending is down, but there are two sectors Australians are still willing to fork out money for.
Spending continues to grind to a halt, with a number of industries only recording minute rises in turnover for the last year.
The bureau released its May 2024 breakdown of retail turnover on Wednesday and found spending had flatlined across a number of different industries compared with the year prior.The decline in spending has been felt across department stores and homeware retailers most acutely, but cafes, restaurants and grocers have continued to buck the trend.
"That suggests consumers are overall consuming less than they were 12 months ago, because prices have risen by more. "They're slowing their spending down, and what we've seen is that the occasional growth in retail spending has been in line with sales and events.
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