Spending spree continues in Feb

Wednesday 01 April 2009

Article by Mozo

Aussies continued to spend at near-record levels in February, with many still splashing the free cash that landed in their bank accounts in December.

Official figures from the Bureau of Statistics show that Kevin Rudd’s call for the nation to go and spend a buck for the economy seems to have been taken up by many Australians.

Business Day reports that consumers spent more using credit cards, debit cards and cash during January and February than in any other two-month period in the history of the country.

"This not only highlights that fiscal policy is working, but that more is needed," surmised ANZ economist Alex Joiner.

Millions of Aussies have recently been scrambling to get their tax returns in on time after the government announced that another cash handout would be made available to all those who did so.

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