Australia’s Household Spending Misses Estimates in February

Australia’s household spending came in slightly weaker than expected in February, even as the Reserve Bank reduced interest rates for the first time in more than four years in that month.

Spending advanced 0.2% from January, when it was upwardly revised to a 0.5% gain and compares with a forecast 0.3% increase, Australian Bureau of Statistics figures showed on Friday. From a year earlier, it climbed 3.3%.