Australia's third-quarter economic growth will not be growth, it'll be a contraction. This is due to extended lockdowns covering nearly 50% of the country's population.
- New South Wales (Sydney the capital city, Australia's largest city) has been the epicentre of the 2021 outbreak
- Victoria (Australia's second-largest population state and home to the country's second city, Melbourne) running second
Government authorities in NSW are now briefing businesses to prepare for 'Freedom Day', said to be October 11. This is slightly ahead of the day when the 80% double vaccination target is expected to be achieved in the state, around October 21 although the better-sourced estimate I have seen is around the 15th.
Victoria is a little behind, the 80% double-vaxxed target is expected around November 8.
Other states should hit 80% in the days and weeks to follow, by the last week of November for the entire country.
This should mean a substantial easing of restrictions and sets the stage for a strong Q4 rebound in economic growth. Internal (and external) border reopening remains a matter of debate. Australia's PM Morrison says states should reopen borders by Christmas, but its not up to him (here's why).
The Reserve Bank of Australia have said time and again that the 2021 outbreak 'delayed not derailed' the economic recovery. The delay is approaching its end and will prompt more substantial tapering from the Bank next year.
Victoria's state government is preparing to trial vaccine 'passports' in regional areas, using an app on smartphones as part of its existing government services app.
Victorian regional city Bendigo to be included in the passport trial:
