December 2023 edition

As 2023 draws to a close, it’s a chance to reflect on an eventful year. Economic and political shifts and their impact on business conditions have been at the forefront.

This edition is designed to keep you up to date with localised trends and provide easy access to insights from experts across CommBank. 

Discover views on the outlook for the economy and consumer spending, or learn about the latest agribusiness trends and announcements. You can also delve into the impact of changing consumer preferences ahead of the holiday season.  

Economic outlook

Our insightful economics research1 keeps you up to date with local and international economic trends, foreign exchange strategy, commodities, and sustainability issues. Access our Global Economic and Markets research portal.

Data-led insights into local consumer spending

Consumer spending in WA recorded strongest annual gains across the country in the monthly Household Spending Insights for October. See how it stacks up against other states and the nation here.

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WA poised for further economic performance

WA remains the strongest state for Household Spending, despite a -0.3%mth decline in October. Discover why this is supporting the prospect of growth ahead.

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Innovation key to scaling WA manufacturing

WA has a thriving innovation ecosystem that is helping take its manufacturing sector to new frontiers. Hear from local manufacturers and researchers about what it will take.

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WA maintains share of regional settlers

The trend of city dwellers relocating to WA’s regions continued in the latest quarterly Regional Movers Index. Discover which hotspots were most popular.

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The latest in agriculture

As converging forces put pressure on many agricultural businesses, we’re recognising their vital contribution to the economy and local communities through our support for National AgDay.

Celebrating Australian farmers 

As converging forces put pressure on many agricultural businesses, we’re recognising their vital contribution to the economy and local communities through our support for National AgDay. 

CommBank Regional and Agri local teams have shown their support by visiting clients and hosting events to celebrate their important contributions, success, resilience and innovation in the Australian agribusinesses sector.

Welcoming our new Sustainable Agri Economist

Our newest member of the CommBank Economics team, Dennis Voznesenski, has joined as Sustainable Agri Economist. Learn about Dennis’ expertise and specialisation in soft commodities and perspectives from across the supply chain. Watch out for his upcoming research.

CommBank iQ Cost of Living report

Our latest report uses Australia’s largest transactional data set to give deep insights into consumer spending and how Australians are coping with ongoing cost of living pressures.

Key insights

  • Spending is falling for younger Australians with those in their twenties hardest hit
  • NSW and VIC have been most impacted
  • Clear divide between regional and metro spending – with sharper declines in metro areas
  • Travel and entertainment were the only discretionary categories to record above-inflation growth

View report

Consumer Insights Report

As consumers rethink how they spend, save, and shop amid cost of living pressures, retailers and hospitality providers must keep pace. Learn more about how to respond to new preferences and expectations of the customer experience in our latest report. 

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CommBank Foresight™

Explore the latest research, insights and thought leadership with CommBank Foresight to help your business navigate the future.

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Need financial hardship support for your business?

All businesses may experience financial difficulty at some time. Getting support is important, and we’re here to help.

Financial support for business

Working capital solutions

Easy and affordable access to working capital allowed Jarrod’s business to grow

Jarrod knew he needed working capital to bridge the 90 to 120 day gap between hiring a new staff member and receiving a cash return on the new hire, so he sourced invoice financing to help smooth out his cash flow.

Strengthening the business case for productive assets

While economic conditions remain uncertain, many businesses continue to lift investment in assets that can boost productivity and efficiency. 

How easy access to working capital helped Promo Gear grow into new markets

The fast growth of Brisbane-based Promo Gear has brought new challenges – including the need to access working capital rapidly when orders come flooding in.

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Things you should know

  • 1 Industry awards (Peter Lee and KangaNews 2022/2023).

    This information is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. You should consider seeking independent financial advice before making any decision based on this information.

    The information in this article and any opinions, conclusions or recommendations are reasonably held or made, based on the information available at the time of its publication but no representation or warranty, either expressed or implied, is made or provided as to the accuracy, reliability or completeness of any statement made.

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