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ANZ have noted that "ANZ data show total spending and retail sector spending growth in April were similar to previous years, despite the end of JobKeeper subsidies on 28 March. The very rapid labour market recovery, as well as high household savings from 2020 and lower interest payments than usual seem to have translated to resilient household spending amidst the fiscal dry-up. While the share of spending going to retail is nowhere near lockdown levels, the share of total spending devoted to retail for the week to 2 May 2021 was 53% - higher than the same time in 2018 and 2019 (47%)."