Australia: Alternative data snapshot: recovery intact – ANZ
|Analysts at Australia and New Zealand Banking Group (ANZ) offer a brighter economic outlook for Australia, as the high-frequency indicators continue to recover.
Key quotes
“With Sydney’s pre-Christmas COVID outbreak under control, mobility around Australia has broadly returned to where it was in mid-December. The recovery in travel to retail and recreational spots has been much slower though. Overall, our high frequency indicator has continued to recover from its December fall.”
“COVID concerns appear to have waned, but people are interested in vaccine news, with Google searches for “vaccine” at its highest level.”
“It appears most Australians weren’t expecting borders to open soon, though, with Google searches for “cheap flights” still in the doldrums after the collapse in early 2020. In terms of domestic flight intentions, it doesn’t look like confidence has recovered from Sydney’s last outbreak and the subsequent state border closures.”
“So far in the new year signs are that housing interest is still very strong, with Google searches for “stamp duty calculator” and “how much can I borrow” both elevated.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.