According to the results from recent Cashcard Retail Activity Index for December 2006, Australian shopping levels reached a record high of $23.7 billion (unadjusted) for the month, an increase of 4.2% from unadjusted spending outcomes in December 2005. This is the highest rate of Australian consumer spending measured by the Cashcard Retail Activity Index for a December period to date.
The Seasonally Adjusted spending level measured $18.5 billion, translating to an annual increase of 4.4%. The Seasonally Adjusted estimate fell -0.1% in December having risen 1.0% in November.
Trend data revealed results of $18.4 billion, an annual increase of 4.8%. The Trend results appear to have stabilised with growth of 0.3% since September.
December 2005 Christmas spending levels reached $22 billion (unadjusted), $17.4 billion (adjusted) and $17.3 billion from a Trend perspective.