The Index includes information on retail spend from the latest MarketView data. There has been overall growth in card spending of 9 percent during July 2020 when compared with July 2019.
However, the data also shows tourism related industries – accommodation and cafes, restaurants, bars and takeaways – have seen the greatest declines of 27 and 11 percent respectively for the year ending July 2020.
‘’The full suite of data will have approximately a month time-lag, so it’s important to remember the index is a snapshot in time in a dynamic, evolving environment,’’ Bryan said.
‘’The August change in Covid Alert Levels is likely to have impact nationwide, particularly to those businesses most susceptible to the economic consequences of Covid-19 travel restrictions. We should see this in the next edition of the Index.