June 25, 2026 03:20 AM GMT Australia Macro+ Data Pulse | Asia Pacific M Update Event Driven Rebound In Household Spending For May Key Takeaways Exhibit 2: Household spending rose 1.3%M in May, reversing weakness seen in April -10 -5 0 5 10 15 -4 -2 0 2 4 6 2020 2021 2022 2023 2024 2025 2026 HSI - %M (lhs) HSI - %Y (rhs) % % Source: ABS, Morgan Stanley Research Exhibit 3: Across categories, all nine spending categories lifted in the month -2 0 2 4 6 8 10 Food Alcohol & Tobacco Apparel Household goods Health ...