![]() Yet the consumer is also leading the recovery with retail sales soaring 4.9 per cent in October as restrictions were lifted. ![]() ![]() In all, household consumption dropped 4.8 per cent in the third quarter to overshadow strength in government spending and net exports. The Australian Bureau of Statistics noted that savings had been fattened by government support payments and stock dividends, as well as the enforced curb on spending. "With the household savings rate jumping to 19.8 per cent, there's enormous scope for consumption to recover over the coming quarters," he added.
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