Consumer spending evaporates due to Melbourne coronavirus lockdown – ANZ

Australia and New Zealand Banking Group (ANZ) is out with its research on the COVID-19 surge in Melbourne and the impact of reimposing lockdown on Australia's second-largest city.

Key findings

“Observed spending in Melbourne fell 11.6% YoY for the week to July 18.

Hit by Melbourne’s Stage 3 lockdown and the closure of the NSW-Victoria border.

Spending on dining/takeaway (−52% YoY) and fashion (−48% YoY) deteriorated sharply.” 

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