The Commonwealth Bank has reported a more defined shift in consumer spending following the latest release of its Business Sales Indicator (BSI).
The BSI is a key measure of economy-wide spending, tracking the value of credit and debit card transactions processed through Commonwealth Bank point-of-sale terminals, a sample of approximately 30 per cent of the Australian market.
The latest figures show very small increases of 0.2%, 0.3%, and 0.4% in the 3 months to September but, according to Commbank, they represent the best performance in 25 months.
We are not holding our breath just yet.