Spending in NSW has rebounded sharply following the lifting of some lockdown restrictions last Monday, according to Commonwealth Bank of Australia (CBA) weekly credit and debit card spending data.
Week on week card spending rose 12.3 per cent in NSW in the week to Friday 15 October, leading an overall 6.2 per cent increase in national card spending. NSW card spending was also 17 per cent higher than the corresponding week in 2019, considered the last ‘normal year’ prior to the start of the pandemic.
Spending on both goods and services rose, with sharp increases in spending on personal care, eating and drinking out and clothing. As people flocked to dine out at restaurants, cafes and pubs, spending on food and alcoholic goods for consumption at home also fell.