The impact of the economic shutdown to control the spread of COVID-19 continues to dominate the Commonwealth Bank Household Spending Intentions (HSI) series. Data to the end of April 2020 shows large declines were experienced in Home Buying, Travel and Entertainment spending intentions. April Retail Spending Intentions shifted lower, closer to the levels seen in February 2020, after a spike higher in March. Health and Fitness spending intentions remained at elevated levels in April – with a sharp rise in bicycle and fitness equipment. Education spending intentions were down modestly, while Motor Vehicle spending intentions have begun to roll-over.
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