(interesting to see if even in a small way, MYR is benefiting):
A busy Christmas period has spilled over into the new year, with consumer spending rising during the first week of January despite COVID-19 restrictions suppressing hospitality spending in the eastern states.
Data from NAB Group Economics shows that consumption spending was 4.1 per cent higher in the week to January 9 than it was in the previous year, when bushfires were blanketing large parts of the country.
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In the report, NAB also suggested:
The best performing sector was the arts and recreation services, which was up 16.4 per cent compared to the previous year, followed by retail trade which grew 14.1 per cent, supported by strong growth in electrical goods and specialised food and liquor
MYR Price at posting:
31.0¢ Sentiment: Hold Disclosure: Held
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(20min delay)