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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Authors
Andrew BoakWill MaherOscar To
Themes
Geopolitical Impact on ConsumptionFuel Price Policy
Regions
Asia PacificAustralia
