Stimulus drives big surge in discretionary retail spending

Tuesday, 21 July 2020

According to AlphaBeta’s real-time economy tracker, discretionary retail spending has bounced on the back of $750 of stimulus payments sent to around 5 million people, alongside the surge in early superannuation withdrawals:

However, Victoria is underperforming due to the hard lockdown across Melbourne:

According to AlphaBeta’s director, Andrew Charlton:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.