Staff of Reuters 2 minutes On the first day of eased coronavirus disease (COVID-19) restrictions for the state of Victoria following a lengthy lockdown in Melbourne, Australia, June 11, 2021, shoppers wearing protective face masks line up to scan a QR code before entering a business. Sandra Sanders/REUTERS SYDNEY, Australia (Reuters) – In July, a measure of Australian consumer mood improved as relief from the end of coronavirus lockdowns in several regions countered, at least temporarily, the newest shutdown in Sydney. The Westpac-Melbourne Institute consumer sentiment index gained 1.5 percent on Wednesday, recouping some of June’s 5.2 percent slump. In July of last year, when the country was still recovering from a series of nationwide lockdowns, the index was up 23.8 percent. Optimists outweighed pessimists, according to the index reading of 108.8. “Despite a steep drop in NSW, confidence has remained up overall,” said Westpac chief economist Bill Evans, “as other states, particularly Victoria and Western Australia, experienced good bounce-backs from COVID-related disruptions in June.” “The major lesson is that the current viral outbreak in NSW, as well as the associated limitations, are not affecting the rest of the country.” The survey took place from July 5 to 9, when Sydney was similarly shut down, although limitations were increased even more on July 9. Wayne Cole contributed reporting, and Christopher Cushing edited the piece./n
Read More
