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Goldman Sachs

May 28, 2026

Australia Household Spending Pullback in April

Monthly UpdateMacro Economic IndicatorsConsumer DiscretionaryConsumer Staples

Australian household spending declined by 1.1% mom in April 2026, largely due to a significant 4.7% fall in transport and fuel spending.

Key Takeaways

  • 1.Australian nominal household spending fell 1.1% month-on-month in April, primarily driven by a sharp decline in transport-related costs.
  • 2.Transport spending dropped 4.7% in April, which the ABS attributed to geopolitical conflicts in the Middle East impacting air travel and lower fuel prices following the halving of the fuel excise duty.
  • 3.Non-discretionary spending saw a larger pullback (-1.7% mom) than discretionary spending (-0.8% mom) during the month.

Table of Contents

  • Bottom line
  • Key numbers
  • Main points
  • Disclosure Appendix
  • Global product; distributing entities
  • General disclosures

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