Changes in spending during the COVID-19 pandemic
Melbourne Institute Research Insight No. 20/20
Date: July 2020
Author(s):
Abstract
The COVID-19 pandemic and subsequent lockdown measures have widely affected consumer spending a key indicator of material wellbeing and a major component of Gross Domestic Product (GDP). This Research Insight examines how COVID-19 is affecting spending in Australia now and in the future, using data from the Melbourne Institute's Taking the Pulse of the Nation survey. The author, Professor Dr Federico Zilio suggests that it is important for the Government to learn which groups of Australians need more support to help enact measures that put household spending on track to recover pre COVID-19 levels.