Classic pent-up demand coming out lockdowns. Via the ABS:
The November 2021 seasonally adjusted estimate:
- Rose 7.3% month-on-month.
- Rose 5.8% compared with November 2020.
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All about the stuff we could no buy locked down:
Alas, the Morrison recession is back as “let it rip” bunkers households:
ANZ-Roy Morgan Australian Consumer Confidence starts 2022 on a softer note as Omicron surges. Consumers are confident about their own financial circumstances, which points to a rapid rebound in sentiment once health outcomes improve. #ausecon @DavidPlank12 @RoyMorganAus pic.twitter.com/sdGal97gql
— ANZ_Research (@ANZ_Research) January 10, 2022
ANZ data shows spending is now at its worst since Delta lockdowns, and Sydney spending for the week to 5 Jan was at its weakest since COVID began. Caution about Omicron transmission and disruptions of businesses due to staff shortages are central to the decline. #ausbiz #omicron pic.twitter.com/UlA5Ui8wVI
— ANZ_Research (@ANZ_Research) January 7, 2022
More vol ahead for consumption.