Australia | Recovery tracker edges up to pre-COVID level

Our recovery tracker indicator has continued to improve through 2021 after a seasonal dip in January. The tracker has reached its pre-pandemic level, with strength in job advertisements and parts of discretionary spending broadly offset by ongoing weakness in mobility indicators, lockdown stringency measures and renewed volatility in financial markets.

What you will learn:

• Transmission of COVID-19 has picked up globally, with a new, more infectious strain emerging in India. Transmission in Australia has remained subdued.
• Consumer sentiment has been improving in line with the economic recovery. Restaurants have seen an uplift in bookings as people look to spend money locally rather than travelling in response to snap lockdowns, which are also somewhat stalling the recovery in mobility and investment.
• The strong performance in equities markets cooled in March, with the sharp increase in bond yields also contributing to greater volatility.