Free Trial

ANZ: Sydney At Lowest Spend Since April 2020

AUSTRALIA

ANZ data notes that "Sydney's ANZ-observed spending for the week to 24 July 2021 was the lowest weekly spending result since the pandemic began. Australian weekly spending was at its lowest since the week to 28 April 2020, before JobKeeper and the JobSeeker supplement were first paid out. The current lockdowns differ from the 2020 lockdowns because people are less uncertain. This is good in some ways: most people are much less likely this time to lose employment or hold onto their money due to low confidence. In other ways, though, the experience gained from living with the pandemic has a negative effect on current lockdown spending. National ANZ-observed weekly non-food retail hit its lowest week since April 2018, as reduced access to retailers was not offset by a rush on working-from-home equipment. Most of that spending was done last year."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.