Households across Australia increased their spending last month thanks to the FIFA Women’s World Cup.
Recreational spending jumped almost two per cent thanks to the World Cup as well as several big concerts.
Other reasons household spending was up included international university students enrolling in classes and elevated petrol prices.
Rising numbers of international university students returning to Australia caused education spending to rise almost three per cent during the month.
CBA expect household spending to start weakening over the remainder of this year and into next year as the lag effect from the RBA’s interest rate rises continues to bite.