Treasury watching consumer spending as GST misses forecast

There is watch on consumer spending as GST take falls below forecasts. (Image: Getty)

Thu, 03 Mar 2022

The Treasury is keeping a close eye on consumer spending after the goods and services tax take unexpectedly shrank.The government’s GST revenue fell 0.5% to $14.92 billion in the seven months ended Jan 31 from the same period a year earlier, missing Treasury’s December forecast by $375 million.The Treasury said it was unclear whether the decline was due to a weaker holiday period than expected, or whether there was a longer-term slide in consumer spending and residential property investment. That followed stronger than expected hous...

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