NT leading the nation in consumer spending, with rates up 3.3 per cent over past four weeks

THE Northern Territory has led the nation in spending, which is up by 3.3 per cent, over the last four weeks as businesses start to reopen under relaxed restrictions.

The Northern Territory has led the nation in spending, which is up by 3.3 per cent, over the last four weeks as businesses start to reopen under relaxed restrictions. Picture: IStock

THE Northern Territory has led the nation in spending, which is up by 3.3 per cent, over the last four weeks as businesses start to reopen under relaxed restrictions.

Consumer data from NAB shows spending grew in all states and territories over the past four weeks, ranging from 3.3 per cent in the NT to 2.6 per cent in the ACT.

But compared to the same time last year, it is still down heavily in most states and territories except the NT (2.0 per cent), with the biggest falls in the ACT (-13.0 per cent) and Victoria (-10.3 per cent).

MORE TOP NEWS

Success: Court rules in favour of NT pastoralists in landmark case

Competitive sport with crowds returns to NT this week

Cafe plan lends family appeal to proposed Esplanade RSL clubhouse

NAB Group chief economist Alan Oster said by industry, spending was still falling very heavily in administration and support services (down 85.9 per cent since the start of the year).

“It is also very weak in accommodation and food services (-49.3 per cent) and transport, postal and warehousing (-47.6 per cent), although the pace of decline has slowed,” he said.

“In contrast, spending is up 29 per cent in professional, scientific and technical services and construction since the start of the year, but up only 1.0 per cent and 7.4 per cent respectively from the same time last year.

Get amazing Sennheiser earbuds (RRP: $499) with NT News subscription deal

“Retail spend is 10 per cent higher since the start of 2020 and from the same time last year.”