Opinion
The Aussie consumer’s demise is greatly exaggerated
The fastest and fiercest rate rises in history have failed to stop the Australian consumer from splashing the cash, but that may not be a reason to cheer.
Jonathan ShapiroSenior reporterYou have to hand it to our regional rivals The Betoota Advocate. Their reporter was on the scene at Sydney’s Vivid festival last month to report on a physically ill Reserve Bank governor as he watched battlers fork out $40 for five churros from a food truck.
So much for his interest rate rises putting a break on frivolous spending. Australians want to go out and have a good time even if, as consumer sentiment surveys suggest, they’re not feeling great about it.
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