Australia’s Household Spending Climbs Ahead of Middle East War

Australia’s household spending rose in February, pointing to resilient demand ahead of the US-Israeli attack on Iran that triggered a surge in oil prices and renewed concerns about cost-of-living pressures.

Consumption advanced 0.3% from the prior month, exceeding economists’ predictions for a 0.2% gain, data from the Australian Bureau of Statistics showed Tuesday. From a year earlier, spending increased 4.6%, matching estimates.