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September 28 Economic Update: stimulus delivers textbook result

New data released today shows how the Australian government’s textbook stimulus response offset falling spending in the rest of the economy. During the COVID pandemic Australian consumer spending dropped very rapidly – down 21% below normal levels at the height of the pandemic. In response, the Government implemented a strong set of stimulus measures. These stimulus measures helped support overall spending in the economy.

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Credit Simple App – Understand where your money is going

The truth is, many of us could do with a little help managing our money. Even prior to COVID-19, approximately 41 per cent of Aussie households were breaking even each month, with about 10 per cent spending more than they earned1. And with unemployment rising and job stability decreasing, it’s never been more important to know exactly where your money is going. After all, we’ve got much more chance of reaching our goals if we measure our progress. That’s why…

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