Monthly household spending figures for November will be revealed, which will take in the period where pre-Christmas sales began.
Early indicators point to stronger spending
While the Australian Bureau of Statistics is yet to issue official figures, data released in December from the Commonwealth Bank’s Household Spending Insights showed the sales, as well as sporting events like the Ashes and concerts by Oasis and AC/DC had prompted a rise in spending growth for the month.
Household spending had risen 1.3 per cent in October and was more than five per cent higher than the year before.
The Commonwealth Bank will also release further household spending data on Thursday, which will take in December.
Black Friday sales not fuelling inflation
The Black Friday sales are tipped to have an impact on discretionary sales figures but the shopping events had not contributed to inflationary pressures.
Monthly inflation data released on Wednesday saw the consumer price index drop from 3.8 per cent to 3.4 per cent in November.
"As the price falls this year were similar to last year, the Black Friday sales were not a major contributor to the change in annual CPI inflation from October to November," the bureau's head of price statistics Michelle Marquardt said.
Wall Street shrugs off weak jobs report
Investors on Wall Street have meanwhile disregarded a weaker-than-expected US jobs report in their expectation the Federal Reserve will cut interest rates this year.
The S&P 500 rallied to a record high close on Friday, lifted by Broadcom and other chipmakers.
The leading company index climbed 0.65 per cent to end the session at 6,966.28 points.
The Nasdaq gained 0.82 per cent to 23,671.35 points, while the Dow Jones Industrial Average rose 0.48 per cent to 49,504.07 points.
Australian markets steady
Australian share futures climbed 29 points, or 0.33 per cent, to 11,025.
The S&P/ASX200 index on Friday ended three points lower at 8,717.8, a drop of 0.03 per cent, while the All Ordinaries dipped about a half-point to 9,045.9.
