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Australia September household spending rises 0.6%

Reuters

SYDNEY, Nov ‌4 (Reuters) - Australian household spending bounced in ​September ‌as higher petrol prices ‌ate more of people's budgets, data ‌showed on Wednesday, while air travel got a boost from major sporting ⁠events.

The Australian Bureau ‌of Statistics' monthly ⁠household spending indicator (MHSI) rose ​0.6% in September to A$82.6 billion ($57.55 billion). ​Analysts had looked ​for ‌a rise of around ​0.2%, after ⁠a 0.1% fall ‌in August.

The annual ​pace ​of spending growth remained robust at 6.8%, showing resilience to higher borrowing ‌costs. In real terms, spending rose ‌0.7% ​in the third quarter, led by air travel.

(Reporting by Wayne Cole; ‌Editing by Muralikumar Anantharaman)