Australia’s economic data and survey measures continue to deliver mixed signals, with some bright spots. Employment and retail spending softened in September as Melbourne’s virus lockdown weighed on activity. However there were some encouraging signs. Business surveys shows signs of stabilising while consumer sentiment rebounded in October with optimism that the virus was being contained. Late in the month there were signs that Victoria would significantly ease coronavirus restrictions as the number of new cases hit zero. More announcements were made about state borders opening and (one way) flights resumed with New Zealand. The mood was tempered by continuing trade issues with China and uncertainty about how the US election will play out.
Article written 9 November 2020.
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