Aussie economy does zombie shuffle

AMP chief economist, Shane Oliver, has released some interesting charts on the post-COVID recoveries taking place in the US and Australia.

According to Oliver, “our US Economic Activity Tracker continued to recover over the last week helped by gains in restaurant bookings, mobility and consumer confidence”:

By contrast, Oliver notes that “our Australian Economic Activity Tracker rose over the last week helped by consumer confidence, restaurant bookings, hotel bookings and retail foot traffic. Unlike in the US it remains down on its June/July high”:

Victoria has pulled the national economy into the mud.

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