Australia’s economic and sentiment measures are mixed. Encouraging signs on employment and retail spending for June were countered by doubts over future fiscal support and worries over Melbourne’s viral outbreak in July and pending lockdown. While the potential for a Victorian style outbreak is tempering the scope and speed of opening up the rest of the country, the prevailing view appears to be more optimistic than pessimistic. Global economies are showing signs of recovery led by China. But with only three months until the US election, volatility and uncertainty are unlikely to recede.
Article written 6 August 2020.
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