Household Spending Intentions – August 2021

The Commonwealth Bank Household Spending Intentions series for August 2021 continued the run of data showing the economic impact of the lockdowns currently in place in NSW and Victoria.  These lockdowns had a considerable impact on the HSI in August as it will over coming months till restrictions ease. Lockdowns are also significantly impacting labour market data, but incomes are holding up due to government benefit payments. Home buying, Travel, Entertainment and Education spending intentions were all down.  Retail, Health & fitness and Motor vehicle spending intentions were trending sideways.

 

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