The BSI is a measure of economy-wide spending as recorded by credit and debit card transactions processed through the bank’s point-of-sale terminals.
The August BSI shows sales continued to grow at the same steady pace as over the past six months, making August the 37th month of consecutive sales growth nationally.
The more volatile seasonally-adjusted measure grew by 0.8 per cent in August, down from 1.6 per cent the month before.
As a result, the seasonally-adjusted annual growth rate eased to 9.9 per cent, down from 11.9 per cent in July.
CBA executive general manager for local business banking Adam Bennett said the latest figures continue to reflect the transition from a mining-led economy to a broader-based growth profile.
“Overall, the August BSI shows business conditions remain favourable across most of the country. This month’s results also reveal some unevenness between regions and sectors, as businesses continue to adjust to an economy in transition,” Mr Bennett said.
“For business owners, it is important to be aware of these variations to ensure they are planning ahead and proactively managing their businesses’ cash flow,” he added.
CommSec chief economist Craig James, who authors the BSI report, said the overall business environment has improved despite “some areas of weakness”.
“The latest job advertisement and unemployment data reflects a strengthening employment market, helping to underpin consumer spending. Both businesses and consumers have also been starting to take advantage of low interest rates, with lending growth continuing to recover,” Mr James said.
“Much of that borrowing is being channelled into new housing and business investment, which should help to sustain further growth.”
