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September 3 2021

 
 
1. Spending habits…

ANZ spending data is showing the lockdown impacted August slowdown. Total spending is back below pre-covid levels for the first time since the May lockdown last year. 

2. More DIY…

Last week we discussed the rising proportion of 35-44 year olds in Australia, who are a key cohort for upgrader housing demand. This week we got data on loans taken out to undertake renovations in Australia, which continued to rise through July!

Source: Macquarie, ABS

3. Personal savings…

The chart below shows US personal savings as a % of disposable income. It is impressive how fast they could spend it when Covid restrictions were eased! We wait to see what spending records could be broken as Australia emerges from lockdown just in time for the Christmas holiday season…

Source: Bloomberg