Aussies ready to splash on travel, entertainment, cars

Australians are cashed up and ready to spend big on travel, entertainment and cars this year, according to the latest data.

Commonwealth Bank of Australia (ASX: CBA) on Tuesday released its most recent Household Spending Intentions study results, showing the economy could be in for a massive post-COVID comeback in 2021.

“While the situation warrants some caution, we continue to expect solid household spending and economic growth for Australia through 2021,” said CBA senior economist Belinda Allen.

Combining December data from the bank and Google, the study found spending intentions for travel rebounded into the positive for the first time in 2020.

Big year-on-year jumps in spending were recorded for camping and outdoor-related…