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Tuesday, 26 May 2020

Confidence up for 8th consecutive week

Curve remains flat

Very few cases of COVID-19 in Australia, with a handful of cases returning from overseas and headed to quarantine. 

Recoveries continue to comfortably outstrip new cases.

And, importantly, we're consistently seeing zero deaths reported on a daily basis, with few serious cases even going as far as ICU. 

There are 5 cases remaining in ICU nationally, against the expanded capacity of 7,500 beds.

Confidence returning

Consumer confidence increased for an 8th consecutive week, up by +0.4 per cent to a reading of 92.7 points according to ANZ-Roy Morgan.

Future financial conditions gained by +3.2 per cent and is approaching its long term average reading.

Source: ANZ-Roy Morgan

Credit card usage data shows that Aussies are willing and able to spend again, but realistically travel restrictions needs to be eased before the economy can begin to fire up properly.