CBA: Staples boom, discretionary busts

Via CBA:

CBA Card Spend – week ending 20 March 2020

CBA card spend indicates a surge in spending on food, alcohol and health over the past week.
Spending has retreated sharply on clothing & footwear, recreation, transport and education.
Expenditure on goods has lifted materially, whilst services spend has contracted.
The overall level of expenditure has risen primarily because of the spike in sales at food retailers.

Insights on spending from CBA card data:

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