Despite rising costs, Aussie households are still splurging—spending up 0.6% in July, fueled by big events like the World Cup and blockbuster movies. But economists warn this spending spree won’t last, as sluggish wages and falling house prices could soon cool demand. The Reserve Bank, already hiking rates three times this year, is watching closely, needing a natural slowdown to hit inflation targets—not a crash. With property values taking their biggest monthly hit since late 2022, consumers may soon feel less wealthy and dial back spending.
Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn.
Advertise on DNN: advertise@thednn.ai
This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai.
Podden och tillhörande omslagsbild på den här sidan tillhör
The Daily News Now!. Innehållet i podden är skapat av The Daily News Now! och inte av,
eller tillsammans med, Poddtoppen.
