News

Australia – Business Sales Indicator (for May 2019) is showing above-average growth

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

+6.0% y/y

  • 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.

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