Business
Cowed consumers not ready to go on post-pandemic spending spree – Sydney Morning Herald
Consumers and businesses are at their most confident this year. But a special survey of consumer trends suggest people want to save, not spend.
EY found 55 per cent of people were trying to save more, with only 13 per cent expecting to increase their spending on last year’s levels.
Among mortgage holders, 71 per cent said they would use any savings caused by falling interest rates to pay off their mortgages faster. Among those who didn’t plan to pay down their mortgages, 95 per cent would save any interest-rate windfall.
Cautiousness was higher among JobKeeper and coronavirus supplement recipients. More than 60 per cent of those being supported…
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