Credit and debit card data from Commonwealth Bank and ANZ show consumer spending has recovered so much that it is now above where it was this time last year.
For the week to May 22, personal spending was in positive territory, up 2.3 per cent on the same week last year, according to ANZ's data, while CBA's shows it is up 4 per cent.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
