Brace for worse - this is just the beginning of the spending decline.
Adelaide Timbrell is Economist and David Plank is Head of Australian Economics at ANZ
1. ANZ-observed spending is:
Proprietary data sourced from bank’s internal systems and includes, but is not limited to, card transaction data and merchant facility transaction data.
Desensitised, de-identified and aggregated.
Not scaled up to represent total household spending in Australia.