Australia recovered well from COVID this year. Despite facing inflation and a high cost of living in the early months of 2023, life is normalizing as inflation eased in October.

The Black Friday sale and the Cyber Monday sale experienced a 3% increase in consumer spending compared to the previous year. Christmas, eagerly awaited, is celebrated nationwide, and analysts anticipate a similar spending trend for Christmas.

While there is an expectation of reduced spending by low-income households this festive season, middle-income households and above are predicted to maintain their usual spending levels.



Image: Image: Shutterstock – Zivica Kerkez

Produced By: Samyukta Thakur

Featured In Story: Dr. Paul Harrison, Senior Lecturer in the Faculty of Business and Law, Deakin University.

First aired on The Wire, Wednesday 6 December 2023