Pete Wargent blogspot

PERSONAL/BUSINESS COACH | PROPERTY BUYER | ANALYST

'Must-read, must-follow, one of the best analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Markets & Economics Editor, Sydney Morning Herald.

'I've been investing 40 years & still learn new concepts from Pete; one of the best commentators...and not just a theorist!' - Michael Yardney, Amazon #1 bestseller.

Tuesday 7 July 2020

Victoria heading for lockdown

Victoria goes it alone

While other states and territories continue to report zero community transmission, and essentially zero active cases, Victoria reported a fresh high of 191 COVID-19 cases today.

This is Victoria's worst daily result of the pandemic so far. 


With nearly 850 active cases it seems inevitable that Victoria is heading for a 4-week lockdown, although this has yet to be announced. 

CBA's card spend statistics continued to improve to be up +12 per cent from a year earlier - as ATM withdrawals are running 30 per cent lower than a year ago - but the card expenditure figures were held back by spending in Victoria, where spending was only up +1 per cent year-on-year. 

While this is a nasty turn of events, Victorians may take some heart from the previous experience New South Wales, which saw daily cases decline from a daily high of 212 on March 28 to just a smattering of cases by April 12.

In that instance many of the cases were returned travellers and their close contacts, but  awareness, management, and treatment has also improved markedly since then.