Higher US interest rates would put downward pressure on the Australian dollar, helping to boost the economy, but most economists view strong US figures as a temporary blip.
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Feren Yen and Sam Tan’s Downward Duck yoga studio was one of the Victorian businesses central to Australia’s extraordinary economic recovery in December.
Household spending by Victorians increased 10.4 per cent in the December quarter – the biggest surge since records were kept – as tough lockdown restrictions were lifted and people could head back to spending on services such as yoga.
Feren Yen at her Yoga Studio in Melbourne’s Springvale. She is hoping that more people will feel comfortable about going back to yoga.
Eamon Gallagher
Spending on recreation and culture in Victoria over the three months skyrocketed 24 per cent – also the highest on record.