What’s happening to consumer spending now?
Year 10, 11 and 12 students would all benefit from reading and interpreting the latest graph/chart of consumer spending from illion, in partnership with economists at AlphaBeta.
Tab 1 shows the initial decline in consumer spending and then the impact of the policy measures that have increased spending. Tab 2 shows the wide variation between spending categories.
Andrew Charlton from AlphaBeta was recently interviewed on ABC TV about the impact of Victoria's Stage 4 lockdown on the flow of goods, services and tourists across state borders; and the further damage to confidence. This would be good viewing for Year 12 students when looking at economic activity and economic policy strategies.