Consumer spending in Australia's two largest cities is down at lockdown levels

Data from ANZ showing spending in Sydney is at its lowest since COVID began

The you-know-what has well and truly hit the fan in Australia due to the surge of the Omicron Variant.

Senior Economist, ANZ Bank with the tweet:

Australia coronavirus speninding 07 January 2022

Sydney and Melbourne account for just under 10m of Australia's circa 26m population. A drying up of consumer activity in these is a huge negative impact on the country's economy.