That’s where the CommBank Household Spending Insights (HSI) series comes in. It provides a detailed, timely view of how Australian households are spending money across the economy.
What Household Spending Insights measures
Household Spending Insights uses de-identified data to track how much consumers are spending and what they’re spending it on across the Australian economy.
CommBank Head of Australian Economics Belinda Allen says the series captures “how much consumers are spending - and on what - in the Australian economy using de-identified data from CBA”.
The data covers a wide range of payment types, including credit cards, debit cards, buy now, pay later services and direct bank transfers.
As Allen explains, “however we spend money as households - by credit card, debit card, buy now, pay later, direct bank transfer — we calculate it at the end of each month and measure what consumers are spending on and how much”.
Why household spending matters
Household spending plays a central role in the economy.
Allen notes that “household spending makes up about 50% of Australia’s economy”, which means changes in how much people spend can have a significant impact on overall economic growth.
When spending is strong, the economy tends to grow more quickly. When spending slows, growth tends to slow with it.
Because of that, household spending data can also feed into broader economic decisions. Allen says it “can also impact interest rate decisions by the Reserve Bank of Australia”.
How the CommBank HSI differs from official spending data
One of the key differences between Household Spending Insights and official statistics is coverage and timing.
Allen explains that each month the Australian Bureau of Statistics releases data covering “around 60% of spending in the economy”, while CommBank’s data captures “around 100% of spending in the Australian economy”. The CommBank HSI includes spending on categories including Education, Utilities and Insurance which are often left out of high frequency official data series.
The CommBank HSI is also released earlier. Allen notes that CommBank generally releases its data “a couple of weeks earlier than the official measures”.
That combination — broader coverage and earlier release — means HSI can provide a timely snapshot of how household spending is changing month to month.
What economists look for in the data
Beyond the headline number, the detail matters.
Allen says she looks first at “the size of the move each month” — whether spending has risen or fallen — before digging into where that change is coming from.
“I like to get into the detail and look at what consumers are spending on,” she says.
That includes categories like eating and drinking out, household goods, education and utilities. Seeing if households are spending on discretionary or essential items can give us insights into behaviour. “There is just so much richness in the data for us to look into,” Allen says.
Those category-level shifts can reveal changes in behaviour that aren’t always obvious from top-line economic figures.
Why the CommBank HSI is useful
Household Spending Insights helps paint a clearer picture of how Australians are responding to economic conditions.
It shows:
- how spending is changing over time
- which categories are growing or slowing
- how consumer behaviour shifts month to month
Because household spending is such a large part of the economy, those patterns help economists understand how growth is tracking and where pressures may be building.
The takeaway
CommBank Household Spending Insights tracks how Australians are spending across the economy, using de-identified data that covers close to all consumer spending.
With earlier release timing and detailed category breakdowns, it provides a timely view of consumer behaviour — and a useful lens on how the economy is moving beneath the headlines.
