The CommBank Household Spending Intentions (HSI) Index for November 2021, released today, is at its highest level since December 2019, recovering all the ground lost during the COVID-19 period.
The index – which provides an in-depth gauge of Australian consumer spending – rose 2.1 per cent during November to 110.3, driven by solid gains in spending on Transport (+21.5 per cent), Travel (+14.7 per cent), Retail (+9.6 per cent) and Household services (+9.4 per cent).
Transport spending has risen 52 per cent since the Delta lockdown low of August 2021. Fuel stations, taxis, tyre stores, car parking, auto repairs, towing and freight & trucking services have led the surge. Travel spending also rose by a significant 77 per cent over the same period, with the largest increases including hotels, motels and resorts, travel agents, airlines and tourist attractions.