Global Macro Service > Research Briefings > Australia

New Recovery Tracker shows a decline in conditions

We have constructed a new ‘Recovery Tracker’ index to gauge momentum in the economy as it bounces back from the COVID-19 pandemic. The index combines information on health outcomes, consumer demand, mobility, trading restrictions and financial and labour market conditions. After recovering steadily through April and May, momentum stalled in June and the index fell further in July. We expect this measure will slip further in the coming months as more data become available and the effects of the stage four Melbourne lockdown are registered.

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