Australia’s Commonwealth Bank Business Sales Indicator (BSI) is a measure of economy-wide spending.
Some positive news for the Oz economy.
+0.7% in May (trend terms)
- Same as in March and April
- there has not been stronger spending growth for almost 18 months
- prior +5.7%
- fastest rate in seven months
- 5.5 % is the long-term average
The Commonwealth Bank BSI is obtained by tracking the value of credit and debit card transactions processed through Commonwealth Bank merchant facilities.
- The BSI covers spending broadly across the economy rather than just retail sales, including spending on automobiles, personal services and airlines.