10 Dec 2020
Australian Household Income
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
The attached chart helps to highlight the complete collapse in household spending as a result of the COVID-19 Pandemic during 2020.
Interestingly, as household spending collapsed, saving soared to excessive levels which is not good for business or the economy.
The good news is that household spending collapse has bottomed and is on the way up which points to a more buoyant economy in 2021 and an improved profit outlook for business.
Click for chart.
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