ANZ economists say the fall in activity in Australia since June has recovered.
Looking ahead:
- From here, we think it is likely to lift further
- but we can't see it getting close to normal until Victoria eases social distancing restrictions
Victoria is Australia's second most polpulaous state, its capital Melbourne the country's second most populous city. Melbourne saw an outbreak orders of magnitude higher than any other region in Australia (a judicial enquiry is ongoing to find the source and recommended how it not happen again). So far authorities in charge have dodged responsibility but let's see how this enquiry plays out.
