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Credit and debit card spending surging

Matthew Cranston
Matthew CranstonUnited States correspondent

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Credit and debit card data from the Commonwealth Bank shows spending is now 5 per cent higher than the same time last year but show the ACT's tight COVID-19 restrictions have kept it lagging behind all other states or territories.

The slow easing of restrictions in Victoria has seen spending momentum lift in that state with overall spending there finally reaching a point where it is now higher than this time last year, up 3 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

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    Original URL: https://www.afr.com/policy/economy/credit-and-debt-card-spending-surging-20200610-p5514c