Consumers on wild Xmas binge?

Thursday, 17 December 2015

From CBA comes debit and credit card volumes for December:

CBA runs a separate business spending barometer using the same method that I don’t bother reporting because it has barely any correlation with the economy so I suggest some caution in taking these numbers at face value.

Those are big numbers all right.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.