Australian household spending drops in February despite big boost from Taylor Swift tour

Australian households continued their economic cutback in February despite a certain pop megastar driving a huge increase in spending at music festivals and event venues.

According to the latest data from Commonwealth Bank's Household Spending Insights (HSI) index, household spending fell 0.3 per cent last month.

That was despite music festivals and function and event centres registering jumps of 76 and 115 per cent respectively, thanks largely to hundreds of thousands of people flocking to and spending heavily at Taylor Swift's seven concerts in Melbourne and Sydney.

To read continue: https://www.9news.com.au/finance/australia-economy-spending-down-february-despite-taylor-swift-impact-commonwealth-bank-data/d449e48e-5b92-44c3-9e5c-850e3eb0074e