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Economist Callam Pickering has published an interesting chart on Twitter showing that Australian retail sales are running three years ahead of their long-run trend thanks to COVID stimulus:
Australian retail sales are running way above trend.
The pandemic impact on retail spending is really quite remarkable.
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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.
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