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Tuesday, 9 June 2020

Business conditions begin to claw back

Claw back begins

There was a significant rebound in business confidence and conditions in May, albeit they still, of course, remain at historically weak levels:

Business confidence jumped 20 points higher, but is still in negative territory, while business conditions improved by 10 points over the month. 

Via the NAB Survey:

Source: NAB Survey

Well, it's a decent start, as restrictions are eased.

There have been some spectacular results for Australia in respect of COVID-19 today, with only two new confirmed cases, with two cases remaining in ICU:

Both of the new confirmed cases were returned overseas travellers, held in New South Wales quarantine:

New Zealand is also now officially COVID-19 free.