Australian households are spending more – and it’s helping the economy regain some momentum

The latest national accounts show consumers are becoming more willing to open their wallets as the Australian economy wraps up its weakest financial year since the early 1990s. Photograph: Steven Saphore/AAP

Australia’s economy has wrapped up its weakest financial year since the early 1990s, outside the pandemic, marking two years of weak growth in the wake of the post-Covid lockdown boom.

But it’s not all bad news.