Credit and debit card consumer spending data shows a two-tiered economy has started to develop between Victoria and the rest of the country.
Growth in spending in Victoria has gone backwards due to stage four COVID-19 restrictions, but spending elsewhere has kept rising compared with the year-earlier period, albeit at a slowing rate, data from ANZ and Commonwealth Bank shows.
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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
