CBA: Bottomless spending crash spreads beyond shutdown sectors

Wednesday 15 April 2020

Via CBA credit card data:

Insights on spending from CBA credit & debit card data:

Analysis from our CBA credit & debit card spend data over the week to 10 April indicates the contraction in household expenditure has accelerated. And it is broad-based. Our data indicates that some areas of household expenditure which are not directly impacted by the government imposed shutdown are now being adversely impacted.

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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.