CommBank Global Economic & Markets Update podcast

Super Tuesday: Confidence, household spending and income support in Australia

July 21, 2020

In this podcast with Stephen Halmarick, Chief Economist and Belinda Allen, Senior Economist an update on CBA Household Spending Intentions in June is provided which gives a great benchmark for household behaviour pre recent coronavirus cases in Victoria. Stephen and Belinda also discuss what the weekly card spend data is showing in July so far and an update on what we are seeing in Victoria. RBA Governor Philip Lowe has spoken about the importance of confidence and where RBA policy can and can’t go from here. Stephen also shares his thoughts on the extension to JobSeeker and JobKeeper and what we can expect from the July Economic and Fiscal Update on 23 July.


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Before listening to this report, you are advised to read the full Global Markets Research disclaimers which can be found at Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This report provides general market-related information, and is not intended to be an investment research report. The information contained in this report is approved and distributed by Global Markets Research, a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial instruments. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. The data used in the ‘Commonwealth Bank Household Spending Intentions’ series is a combination of the CBA Data and publically available Google Trends™ data. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, credit card transaction data, merchant facility transaction data and applications for credit. As the statistics take into account only the Bank’s data it may not reflect all trends in the market. All customer data used, or represented, in this report is anonymised and aggregated before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this presentation is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.