Australians to Spend Less This Christmas, Survey Shows

Australians to Spend Less This Christmas, Survey Shows

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Business

University

Hard

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The transcript discusses the Reserve Bank of Australia's (RBA) cautious approach to inflation and growth, with potential rate cuts in 2025. Migration has bolstered demand, but consumer spending remains weak. Holiday spending is down 8% from last year, with persistent inflation affecting consumption. Social media, particularly Facebook, is increasingly influencing consumer spending. The economic outlook is uncertain, with immigration policy playing a significant role. An interest rate cut in February could alleviate consumer pressure, but challenges remain for Australian families.

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3 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the expectations for interest rate cuts in early 2024, and how might they affect consumers?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

In what ways are social media platforms influencing consumer spending habits?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What challenges do families face during the holiday season in terms of spending?

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