ANZ: Spending holding up despite virus outbreaks

Thursday, 7 January 2021

The virus outbreaks across NSW and Victoria have failed to dampen spending according to new data from ANZ.

Total spending by ANZ cardholders increased by 6% in December over November, with spending by Victorian cardholders up almost 5% and spending in New South Wales up 2%. Spending by South Australian cardholders rose by 16%, while Queensland spending was up 10%.

Spending on entertainment was up almost 25%, while spending on accommodation was up 20%:

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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.