Visa Spending Momentum Index


Latest Release

21 September, 2023 - The Visa Australia Spending Momentum Index (SMI) improved by 5.7 points to 100.5 in August as a larger share of Australians increased their spending compared to a year ago. At the same time, both the discretionary and non-discretionary SMIs improved by 2.3 points and 4.3 points respectively, partly as a result of inflation-induced cost increases. Both indices are now in expansion with readings above 100.
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