Omicron caution triggers sharper drop-off in early year spending

ANZ (ASX: ANZ) is reporting a sharper-than-usual drop in spending in early 2022 due to caution around the Omicron variant of COVID-19, especially in NSW where spending in the week to 2 January was 25 per cent lower year-on-year.

However, ANZ Research senior economist Adelaide Timbrell emphasises…