The recent weekly economic update was released on 12 June, here are the main points:
- The COVID-19 curve is a flat-line now with no new cases leading to all domestic restrictions related to the pandemic been lifted.
- Retail spending remains steady, and Jobseeker numbers is again increasing.
- Forward-looking indicators continue to be weak; however, business confidence is recovering.
- U.S. employment data is surprising, though the OECD presents a terrible global outlook.
- Manufacturing sales volume declines.
- Building work put in place declines sharply.