Australians are expected to splash much of the cash they stashed during lockdowns on Christmas spending, after October and November sales already recorded big gains.
Despite months of lockdowns, lost incomes and travel restrictions this year, most Australians are expected to splash their stash of cash this Christmas.Commonwealth Bank's Household Spending Intentions Index has risen to its highest level since before the pandemic
The Commonwealth Bank's Household Spending Intentions Index is the highest level its been since just before the COVID-19 pandemic began. The bank's chief economist, Stephen Halmarick, said the data showed Australia's economic recovery from the most recent east coast lockdowns was strong. Commonwealth Bank of Australia chief economist Stephen Halmarick says the amount of savings in personal bank accounts is unprecedented.
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