Australia and a significant downside risk to an otherwise positive economic outlook

A snippet from a report via Commonwealth Bank of Australia's securities arm,. Commsec:

• Aussies are of course acutely aware of the risk that another potential Covid-19 outbreak poses to our health - especially with the more virus-transmissible winter months imminent. A continuation of 'mini-lockdowns' and border closures - due to the delayed vaccine roll out - poses a significant downside risk to an otherwise positive economic outlook.

This is spot on. The vaccine rollout is pathetically slow and getting slower as targets are missed and abandoned. State governments are on a hair-trigger for shutting down economies at the slightest sign of an outbreak, border closures also. NSW, Australia's largest population state, is, thankfully, an exception, where the state government has a more nuanced view of restrictions. And, yes, Australia is heading into winter which will mean more indoor gatherings and heightened risk. And, finally, federal government wage support subsidies have ended.

An interesting few months lie ahead.