Flipping the script on previous years, spending on blockbuster sport and music events overshadowed Black Friday sales in November.
11 December 2025
Key takeaways:
- Household spending rose 0.5 per cent in November, now at 5.5% for the year.
- Fuelled by marquee events, recreation spending surged 1.6% in November, the biggest lift across all categories.
- Electronic stores, clothing stores and furniture stores saw spending spikes due to sales activity.
- Household spending growth has been remarkably consistent throughout 2025, which could weigh on the RBA.
What drove spending in November?
November was a blockbuster month for experiences that had Australians reaching for their wallets, according to the latest CommBank Household Spending Insights (HSI) report.
The Ashes cricket series bowled over fans in Perth, while concerts by AC/DC, Oasis and Metallica took place across the country. Add in the release of the movie Wicked: For Good boosting cinema spending, and recreation became the clear standout over the month.
“Households prioritised experiences in November, and the month’s busy calendar of sport and entertainment provided a strong boost to spending,” said Belinda Allen, CBA Head of Australian Economics.
Which categories led and lagged in November?
The HSI showed household spending rose 0.5 per cent in November in seasonally adjusted terms, as nine of 12 categories recorded gains.
Recreation was the clear standout, up 1.6 per cent, followed by Insurance and Motor Vehicles (both +0.9 per cent). Hospitality and Household Goods also rose 0.7 per cent each.
On the downside, Utilities recorded a 2.1 per cent fall as the last of the energy rebate payments impacted the category over November, while Food and Beverage Goods slipped 0.2 per cent. Transport was flat for the month.
Electronics, clothing and furniture stores all recorded significant spending growth in November. Picture: AAP
What impact did Black Friday sales have?
Black Friday sales still contributed to spending growth in November, with electronic stores, clothing stores and furniture stores all recording significant spending lifts in November.
This category trailed recreation however, marking a shift from previous years when discount events dominated November. Australians appeared to spread their spending more evenly across categories and months this year, rather than concentrating purchases around major sales periods.
“Patterns of consumer spending have evolved over recent years as sales events have shifted to as early as October, and we’re seeing less lumpiness in spending as a result,” Allen said.
What’s the big picture for spending in 2025?
Consistency is the story, as consumers continue to record stronger spending in 2025 compared to previous years.
Annual growth in the CommBank Household Spending Insights (HSI) index sits at 5.5 per cent, underpinned by improved household incomes and wealth.
What does this mean for the economy and interest rates?
The resilience in household spending suggests the economy is entering 2026 with solid momentum. While discretionary categories are thriving, this sustained strength could influence monetary policy.
“The risk of a potential rate hikes in 2026 gained traction over the past month and is now elevated post the hawkish December RBA meeting. Robust spending will be part of that conversation, added Allen. “For now, households appear well-positioned, with incomes and savings supporting confidence.”