Photo / Getty ImagesA University of Otago report has shed some light into one of the benefits of lockdown. "Overall, people have reduced their discretionary consumer spending on restaurants, outside entertainment and travel, which has gone into savings and also into more 'at home' spending on food and entertainment." A decrease in consumer spending has also led to changes in debt and savings behaviour. Watkins believes the latest lockdown will lead people to re-assess their spending habits once again and some of those changes may become "new habits". However, consumer spending is likely to increase again once lockdown eases for the whole country, much like it did when lockdown ended last year.

Source: New Zealand Herald September 10, 2021 08:15 UTC