The Commonwealth Bank Household Spending Intentions series shows that the patterns of spending in the Australian economy continues to be impacted by the policies to slow the spread of COVID-19 – with some big changes now evident. Data up to the end of May 2020 showed Retail spending intentions jumped higher on the month, consistent with our Commonwealth Bank credit/debit card spending data. Improvement was also seen in Entertainment spending intentions. After big falls in April, spending intentions stabilised for Home Buying and Travel. Health and Fitness spending also stabilised after recent gains, while some weakness was evident for Education and Motor Vehicle spending intentions.
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