New data from CommBank has confirmed customers increased their spending at hospitality venues last month.
The CommBank Household Spending Insights Index report showed an overall rise in spending of 1.8 per cent for the month of August, with 10 of 12 spending categories showing positive growth.
Hospitality was the highest growth category in August, increasing by 5.2 per cent compared to July, which saw a small -2.6 per cent decline.
The August increase was likely highly affected by Father’s Day, which fell on 1 September this year, meaning spending would have taken place during the month of August.
The last time such increases occurred was in August 2019, which saw the hospitality category up by 4.2 per cent.
However, a “return to softer hospitality spending would be expected in September”.
The largest contributions to spending in the sector were restaurants, pubs, taverns, and bars, fast-food outlets, and food delivery services. But the findings also indicated reduced spending at cafes, breweries and wineries, and caterers.
Overall, all states and territories recorded growth in August.
The Northern Territory showed the highest rate of household spending growth in August, sitting at 3.2 per cent followed by the Australian Capital Territory (2.5 per cent), Victoria (2 per cent), Tasmania (1.9 percent), Queensland (1.8 per cent), New South Wales (1.6 per cent), Western Australia (1.3 per cent), and South Australia (0.9 per cent).
Western Australia, the Northern Territory, and New South Wales are currently all running above the national average of 3.7 per cent. Tasmania and Victoria are running at the national average of 3.7 per cent/year, however Queensland, South Australia, and the ACT are all below the national average.
