Football World Cup boosted hospitality spending in July
Retail spending rose 2% in July as FIFA World Cup drove up hospitality spending, though fuel prices continued to pressure household budgets.
Westpac reported a 2% gain in retail spending during July, with hospitality activity boosted by the FIFA World Cup. The data shows consumers spending more on eating and entertainment, though fuel prices continued to weigh on household budgets.
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Football World Cup boosted hospitality spending in July
Westpac says retail spending scored a 2% gain in July as the FIFA World Cup drove up hospitality spending, but fuel prices continue to keep household budgets offside