www.bloomberg.com
Household spending in Australia increased more than expected in November, signaling strong consumer confidence despite persistent high inflation and borrowing costs. This surprising resilience suggests that consumers feel secure in their financial situation, perhaps due to a robust labor market or accumulated savings. The rise in spending indicates the economy is holding up well, which might influence future monetary policy decisions by the Reserve Bank of Australia as it weighs ongoing inflationary pressures against signs of economic strength.
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