Transaction data released by illion and AlphaBeta indicates that low-income earners have been ‘carrying the economy’ during the COVID-19 pandemic.
Illion CEO Simon Bligh says low-income earners are continuing to outspend high-income earners in both essential and discretionary spending, showing that the federal government’s stimulus packages have been successful in reducing the impact of the coronavirus.
However, Bligh warns that the nation will be “staring down the cliff face” when these packages end in September:
