Some easing in private lockdown?

These figures are questionable but they’re the best real-time data that we have. Westpac:

The shift is coast-to-coast:

But it is all staples not discretionary so caution remains:

There is also some good if old news from the ABS. Payrolls held up going into Xmas with a little bit of wages growth to boot:

Though the gender split is a concern and might hint at more damage to come:

With the plague peak still ahead and another leg when kids return to school, the private lockdown will probably have a lengthy tail on it.

Houses and Holes
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