July 9 2021
1. Peak card spending?…
ANZ card spending shows the month on month change for June 21 was much weaker than 2018 and 2019. The MoM decline suggests that a return to more normal spend, at least, may be upon us.
Source: ANZ Research
2. Jobs vs lockdown…
Interesting to note the Current (Sydney) and recent (Melbourne/Perth/Brisbane) lockdowns in Australia have had relatively small effects on job advertising compared with what we saw last year. Job advertising in Melbourne is recovering after dipping amid its 2-week lockdown from 28 May.
Source: Seek, Macquarie
3. A lockdown in charts…
No flights, and no flu!
Source: Chart 1- flightradar.com, Macrobond, Macquarie Macro Strategy
Chart 2 – Source: NSW Health, Macquarie Macro Strategy