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Australians expected to spend COVID savings in 2021 as borders open – NEWS.com.au
Australians expected to spend COVID savings in 2021 as borders open
In about 50 days time, we find out if the big assumption is true. A lot is riding on this assumption. The whole nations economic performance and all our jobs are at stake. The assumption? That people who built up big savings in their bank account in 2020 will spend them in 2021, and spend them if the economy is beginning to falter. The risk is those savings don’t get spent and a faltering economy gets even worse.
First, let’s establish the basics here. The pandemic has been a time of huge savings…
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