It seems intuitive that people would spend less in lockdown – but the bank statements of five Australians shows this intuition isn’t always correct
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In Australia – like the rest of the world – Covid-19 has put a pause on live entertainment, overseas travel and wining and dining at restaurants.
Given lockdown prevents Australians from enjoying many of the luxuries they usually spend their money on, and many face financial insecurity for the first time, it is easy to imagine our spending would slow.
But this is not always the case. Commsec data shows retail spending rose by a record 8.5% in March, driven largely by an increase in spending on food and alcohol. Retail prices also rose by 1.9%, the largest rise in 31 years, excluding the introduction of the GST.
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