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CBA Card Spending Data Improves

AUSTRALIA

CBA card spending data shows that "household credit and debit card spending improved in the week ending 4 Sep 2020 and sits 5% higher than a year ago. Annual spending growth had a broad based bounce in all jurisdictions over the past week, with Tas and SA rising the most. Vic Premier Andrew's Statement (6 Sep) outlined a roadmap for a gentle and gradual easing in restrictions from 13 Sep onwards, but consumer spending is unlikely to rebound meaningfully in Vic until November. A bounce in household spending on furnishings and equipment, transport and other miscellaneous goods and services contributed most to the lift in spending growth."

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

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