The Commonwealth Bank Household Spending Intentions (HSI) series for July 2021 clearly shows the impact of the extensive lockdowns in place across Australia, with declines for Home Buying, Retail, Travel, Entertainment, Education and Motor Vehicle spending intentions. Health & Fitness spending intentions continued to improve. Through H2 20 and H1 21, Australia’s economic recovery was impressive, as reflected by the sectors of the economy represented by the Household Spending Intentions series. However, all this has changed in July and, unfortunately, the spread of the delta variant of the COVID-19 virus has seen a combination of rolling lockdowns used across much of Australia and the extended lockdown in Greater Sydney.
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