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Young and low-income earners were most likely to spend $750 coronavirus stimulus payments, ANZ economists say – ABC News
ANZ’s economics team analyses the internal card data of their bank’s customers to see how Australians responded to the Federal Government’s two rounds of $750 emergency stimulus payments this year.
Younger Australians and low-income earners were most likely to boost their spending after getting a $750 stimulus payment from the Federal Government this year, ANZ economists say.
Key points:
- The average monthly spending for a 15- to 29-year-old who received at least one $750 cash payment increased by 51 per cent in July
- People older than 60 were least likely to spend their stimulus payments
- Among those who haven’t received a $750 cash payment, people aged 15-29 have …
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