Unsurprisingly, consumer spending has taken a hit in recent months. The longer restrictions drag on, the more challenging things will become for some businesses.
Thankfully, relief is in sight, with an easing of restrictions just around the corner. And over the year ahead, consumer spending looks set for solid growth.
It has been a long hard slog for many businesses and households. But there is a light at the end of the tunnel.
This document has been created by Westpac Financial Services Limited (ABN 20 000 241 127, AFSL 233716). It provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such. This information has been prepared without taking account of your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation and needs. Projections given above are predicative in character. Whilst every effort has been taken to ensure that the assumptions on which the projections are based are reasonable, the projections may be based on incorrect assumptions or may not take into account known or unknown risks and uncertainties. The results ultimately achieved may differ materially from these projections. This document may contain material provided by third parties derived from sources believed to be accurate at its issue date. While such material is published with necessary permission, Westpac Financial Services Limited does not accept any responsibility for the accuracy or completeness of, or endorses any such material. Except where contrary to law, Westpac Financial Services Limited intends by this notice to exclude liability for this material.
Information current as at 15 June 2020. © Westpac Financial Services Limited 2020.