Australian Economy

Below is Deloitte Access Economics’ Weekly economic briefing with what sure looks like a double-dip recession to me: Deloitte Access Economics’ latest Business Outlook suggests that while Delta strain outbreaks of COVID-19 and associated lockdowns have delayed Australia’s economic recovery, a strong post-pandemic recovery is still on the table.

Below is SEEK’s October Employment Report: OVERVIEW OF SEPTEMBER 2021: STATE OF THE NATION: SEEK job ads were up 6.0% month-on-month (m/m). The first m/m growth since April 2021. SEEK job ads were up by 56.7% in September 2021 year-on-year (y/y) and were up 24.7% when compared to September 2019.

The ABS has released dwelling construction data for the June quarter, which recorded rising dwelling commencements and completions.

Today’s COVID cases have been released for NSW and Victoria.

From Roy Morgan Research: In September 2021 Australians expected inflation of 4.5% annually over the next two years, up 0.2% points and the highest Inflation Expectations for three years since October 2018. Inflation Expectations are now a large 1.2% points higher than a year ago in September 2020 (3.3%).

Victoria has recorded another sharp fall in new COVID cases.

With lengthy lockdowns drawing to an end, job hiring activity is picking up.

Today’s COVID cases were a continuation  of recent trends, with Victoria’s COVID outbreak continuing to worsen while NSW’s improves.

Deloitte has done a good job quantifying the boom in household savings during the current lockdowns across NSW, Victoria and the ACT.

NSW Health has recorded 646 new locally acquired COVID cases and 11 deaths: NSW recorded 646 new locally acquired cases of COVID-19 in the 24 hours to 8pm last night.