How Victoria’s economy is booming back from COVID-19
Victoria’s economy is booming back from the COVID-19 pandemic, new banking data has revealed.
NAB chief Ross McEwan told Neil Mitchell there had been a major spike in spending in recent weeks.
“There are some really good figures coming through,” he said.
Year-on-year, he said bakeries were up 85 per cent, nurseries up 28 per cent, clothing stores up 21 per cent and restaurants “which had been knocked around badly” by lockdown were up 18 per cent on this time last year.
Keep in mind Victoria had not gone into its first lockdown at the same point last year and the figures are also impacted by the prominence of EFTPOS over cash in a post-COVID world.
“Victoria is starting to get going again,” Mr McEwan said.
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