CBA Household Spending Intentions July 2021

Stephen Halmarick, Chief Economist and Belinda Allen, Senior Economist discuss how an improvement in economic conditions in July 2020 and the lockdowns this year have dramatically impacted the readings for the Commonwealth Bank Household Spending Intentions in July 2021. The spread of the delta variant of the COVID-19 virus has shifted the near term economic outlook to the negative and this will continue to impact on all economic data in coming months. For July 2021 the impact of the extensive lockdowns in place across Australia, saw declines for Home buying, Retail, Travel, Entertainment, Education and Motor vehicle spending intentions.  Health & fitness spending intentions continued to improve.

 

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