Business
Card spending shows recovery hopes still alive – The Australian Financial Review
While spending in Victoria has dropped in key areas it is up overall indicating that government stimulus is working.
But overall spending in Victoria is up 3 per cent, and nationally spending is up 26 per cent on the same week last year.
ANZ-observed card spending data showed that in Melbourne spending fell 11.6 per cent for the week to July 18, while in Victoria it fell 7.1 per cent.
ANZ data showed Melbournes spending on dining and takeaway dropped 52 per cent and fashion was down 48 per cent. Accommodation spending in both Melbourne and regional Victoria were down 57 per cent and 26 per cent respectively….
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