Black Friday bounce
The ABS released a couple of data series this week, notably covering the 'Black Friday' sales period in November.
It had been expected that retail turnover would get a nice bump from the related promotions, and although retail turnover did rise +0.8 per cent over the month, this was a bit less than expected.
The ABS also made several references to widespread price discounting by retailers.
The Household Spending Indicator for November also rose in November, but only by +0.4 per cent, to be just +2.4 per cent higher over the year.
Population growth over the same period was likely around 2 per cent, so in real/per capita terms spending has apparently fizzled somewhat.
James Foster's chart below shows how the 2024 iteration of Black Friday was more subdued than Black Friday version 2023.
In other news, Australia's goods exports rebounded to $44 billion in November, but remain well down the euphoric 2022 highs.
It's been an extraordinary few years for iron ore and especially coal, but prices and export values have come off considerably as China's economy has slumped.
The one bright light for goods exports has been Aussie dollar gold, where export values have increased to record levels.
Investors traditionally use gold as a safe haven asset, to provide diversification, and to protect against inflation and economic crises.
And thus it has proven in this cycle, with the US dollar gold price surging from $1,800/oz in 2021 to record highs in a stellar 2024, while still trading around $2,700/oz in early 2025.
The wrap
Although there have been ups and downs along the way, tighter monetary policy has been gradually working its way through the economy, including it seems for consumer spending.
ANZ brought forward its interest rate cut call to February, noting that Reserve Bank of Australia meetings will be 'live' from next month forth.
---
P.S. Whenever you’re ready…here are 5 ways I can help you manage your own money and go next level wealth:
- Boom or Bust – 20 minute online workshop for investors
Register for my next free online training - Boom or Bust? How to change your investment plan - book in here
You also download a free copy of my e-book The Only 6 Ways to Become Wealthy here.
2. Download our property buying guide
Download our free property buying guide here.
You can also check out a few of our recent property investment purchases here.
Get in contact with us today if strategic property investment is your thing.
3. Subscribe to our Top 10 Podcasts for Investors
Listen in to our podcasts
The Australian Property Podcast is rapidly becoming one of Australia's biggest business podcasts, now with well over 50,000 audio downloads per month, and growing fast.
And our popular Low Rates High Returns Show also remains available on Spotify.
4. Subscribe for my free daily blog
Subscribe for my free daily blog with some 3¾ million hits here.
You can also catch up with me daily on Twitter here, where I'm active daily and have over 14,800 followers.
By the way, I'm an 8-times published author on finance and investing, so you can check out some of my books here.
My new book, co-authored with Cate Bakos is available to buy here or on Amazon here - follow our book release on Facebook here and at our Buy Right podcast series here.
5. Work with me privately
For a limited time you can book in a free diagnosis call with me here, so book in a call today.
