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CBA Card Data Show Strong Spending During Sales

AUSTRALIA DATA

CBA card data for the fortnight ending midnight Friday November 25 rose 8% versus the previous week. It covers Black Friday but not the rest of the weekend’s sales. The increase was in line with the same week in 2021 but a bit softer than 2020. In line with the ANZ data (see ANZ Data Point To Pick Up In Retail Spending In November), sales were driven by clothing, household furnishings & equipment and general retail. The share of goods in spending also spiked higher in line with a pickup in retail spending. Expenditure on eating out moderated again but grocery spending rose over the last 2 weeks. (The Australian)

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