Is retail spending on the mend or not?

The latest ABS figures show declining consumer spending for the March quarter – at odds with what we already know.

Summary: The latest March quarter GDP figures from the Australian Bureau of Statistics showed a deceleration in consumer spending, a stark change from the improvements which had been flagged by the Reserve Bank of Australia at its June meeting. Otherwise we know that the construction boom is in full swing, house prices are rising and the share market is generally higher – meaning consumers are getting and feeling wealthier.

Key take-out: Given the strength is some key discretionary spending sectors, the best summation is that consumer spending is accelerating – and at a decent clip.

Key beneficiaries: General investors Category: Economics and Investment strategy.

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