AlphaBeta director Dr Andrew Charlton said the results were a sign that the tapering back of government support measures was not having a disastrous effect on the economy.
“Australians should be buoyed by the fact that spending is now back to pre-COVID levels across both essential and discretionary spending,” he said.
The spending tracker, which draws on the anonymised purchasing data of hundreds of thousands of consumers, showed discretionary and essential spending by high income earners returned to pre-COVID levels in mid-October for the first time since the pandemic began.
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