Melbourne's six-week lockdown will of course prevent a noticeable rebound in economic activity in Victoria in the third quarter. Cases elsewhere remain low and the closure of the border between New South Wales and Victoria should prevent the virus from spreading to other states. Even so, there are signs that Victoria's fresh outbreak is weighing on sentiment and consumer behaviour elsewhere. The upshot is that the recovery across Australia will be even slower than we had anticipated.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.