VIRUS DISEASES – AUSTRALIA

Victoria’s contact tracing now ‘best’: Finkel

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Original article by Tom Burton, Tom McIlroy
The Australian Financial Review – Page: 4 : 30-Oct-20

Victoria recorded three new coronavirus cases on 29 October, while people in hotel quarantine account for 10 of the 14 new cases that were reported nationwide. Meanwhile, Australia’s Chief Scientist Alan Finkel has told a Senate estimates committee that he is impressed with the contact-tracing systems of all states and territories. Finkel has particularly praised Victoria’s contact-tracing system and the significant improvements that have been made to it. Some federal politicians have previously questioned whether Victoria’s contact-tracing system would cope with the easing of lockdown restrictions.

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AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST

Australia & COVID-19 The Economic Story So Far 2.0 Roy Morgan Update: October 2020

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Original article by Roy Morgan
Market Research Update – Page: Online : 28-Oct-20

During the COVID-19 crisis, the ANZ-Roy Morgan Consumer Confidence Index, Roy Morgan Business Confidence Index and Inflation Expectations all hit new record lows, and Unemployment reached its highest level since Roy Morgan began independently measuring it more than two decades ago. Although the pandemic is still with us, and its effects are being felt throughout the nation, there has been improvement all four measures, although Inflation Expectations was the last to lift and rose only slightly, and the seeming improvement in Unemployment is deceptive. Roy Morgan CEO Michele Levine says "We noted in our previous COVID-19: The Economic Story So Far update that as the pandemic progressed, the early sense of ‘we’re all in this together’ had become eroded – something which has become more obvious with every passing week, both politically and economically. Victoria has been the hardest hit state, but nowhere is unaffected, with a total of 3.16 million Australians (22.3% of the workforce nationally) either unemployed or under-employed. Up to this point, financial relief measures from government have cushioned the blow for many people, but with JobSeeker supplements and JobKeeper payments now reduced and set to end completely in coming months, the recession we are in and the damaging effects of the COVID-19 pandemic will be with us for a considerably time, regardless of developments into finding a vaccine".

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ROY MORGAN LIMITED

Movement in Adelaide CBD closest to pre COVID-19 levels while movement in Melbourne CBD at only 15% of normal

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Original article by Roy Morgan
Market Research Update – Page: Online : 28-Oct-20

A special analysis of movement data in Australia’s Capital City CBDs shows movement levels remain well below those seen earlier in the year in all six State capitals. Movement in the Adelaide CBD in mid-October is closest to the pre COVID-19 levels at an average of 78% of the levels earlier in the year during January and February, up 7% points since late July. Adelaide CBD has moved ahead of the Perth CBD which is now at 74% of pre-COVID-19 levels, up 3% points. The Queensland capital is ranked third with movement levels in the Brisbane CBD at 66% of the pre COVID-19 levels, up 5% points while there has been little change for the Hobart CBD, now at 58%. Movement in both the Sydney CBD and Melbourne CBD is lower in mid-October than it was in late July as both cities have dealt with a second wave of COVID-19 in recent months. NSW authorities have dealt largely successfully with sporadic outbreaks of COVID-19 without resorting to a harsher lockdown but nevertheless movement in the Sydney CBD in mid-October is at only 44% of pre COVID-19 averages, down 4% points since late July. The Melbourne CBD entered a Stage 4 lockdown in early August which has continued to this day and movement in the Melbourne CBD averaged only 15% of the pre COVID-19 level in mid-October, down 12% points from late July. It is worth remembering that Melbourne was already in a Stage 3 lockdown starting in the first week of July. Roy Morgan has partnered with leading technology innovator UberMedia to aggregate data from tens of thousands of mobile devices to assess the movements of Australians as we deal with the restrictions imposed in response to the COVID-19 pandemic.

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ROY MORGAN LIMITED, UBERMEDIA

Reform taxes to help economy recover, IMF tells Australia

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Original article by John Kehoe
The Australian Financial Review – Page: 2 : 26-Oct-20

Harald Finger of the International Monetary Fund has expressed support for federal government measures such as the JobKeeper wage subsidy scheme in response to the coronavirus pandemic. Finger also agrees that the JobKeeper scheme needs to be wound back as the domestic economy recovers, and the focus should shift to economic reforms that boost growth in productivity and investment. The IMF Mission chief to Australia also advocates a reduction in the corporate tax rate and increasing the goods and services tax.

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INTERNATIONAL MONETARY FUND

Economic reward in virus suppression

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Original article by Matthew Denholm
The Australian – Page: 4 : 26-Oct-20

CommSec’s latest ‘State of the States’ report shows that Tasmania is Australia’s best performing economy for a third successive quarter. Tasmania is ranked first with regard to a number of indicators, including housing finance and retail trade. Craig James of CommSec says there is a link between a state’s success in suppressing COVID-19 and its economic performance. Tasmania has had no recorded cases since August, and the release of the CommSec report coincides with Tasmania’s borders being re-opened to all other states except Victoria and New South Wales.

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COMMONWEALTH SERVICES LIMITED

Retail can thrive in online shopping shift

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Original article by Glenda Korporaal
The Australian – Page: 13 & 19 : 23-Sep-20

More consumers have embraced online shopping due to the coronavirus pandemic, a trend that Australian Retailers Association CEO Paul Zahra expects to continue. He says the proportion of retail sales that are made online could rise to 20 per cent over the next 18-24 months, compared with about 10 per cent prior to COVID-19. Zahra warns that more physical stores are likely to close in coming years, but the shift to online will force retailers to adapt their business models. The pandemic has also prompted more consumers to support retailers within their local community.

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AUSTRALIAN RETAILERS ASSOCIATION

States take tentative steps to reopen borders

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Original article by Tom Burton, Finbar O’Mallon
The Australian Financial Review – Page: 5 : 23-Sep-20

The South Australian government has advised that New South Wales residents will be able to visit the state again, with border restrictions to be lifted from midnight on 23 September. The Queensland government will in turn expand its "border bubble" with NSW from 1 October, which will allow people in an additional five local government areas in northern NSW to travel to Queensland with a permit. NSW recorded two new coronavirus cases on 22 September, and the state has had no mystery cases for five consecutive days.

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Fitch tips 10pc fall in house prices as immigration weakens

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Original article by Ben Wilmot
The Australian – Page: 15 : 23-Sep-20

Fitch Ratings has forecast that housing prices in Australia will fall by 5-10 per cent over the next 12-18 months. The credit ratings agency says the reduction in net immigration due to COVID-19 travel restrictions and the resulting impact on population growth will weigh on the residential market; it also warns that the restrictions are unlikely to be eased well into 2021. The National Housing Finance & Investment Corporation recently estimated that underlying demand for new houses and apartments could fall by up to 232,000 over the next three years as a result of the coronavirus.

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FITCH RATINGS LIMITED, NATIONAL HOUSING FINANCE AND INVESTMENT CORPORATION – ASX NFI

Give more help to borrowers: APRA

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Original article by Cliona O’Dowd
The Australian – Page: 17 : 23-Sep-20

Repayments on more than 900,000 mortgage and business loans were deferred in late March due to the coronavirus pandemic. Many borrowers are now facing the six-month anniversary of their deferral, and the Australian Prudential Regulation Authority has offered lenders a number of suggestions about how to handle customers who are slated to resume repayments. Amongst other things, APRA has suggested that lenders should contact borrowers via a number of channels in the lead-up to the expiry of their deferral period. National Australia Bank CEO Ross McEwan recently indicated that 20 per cent of these customers have failed to respond when it has contacted them regarding the issue.

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AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Lack of flexible work is keeping Australian women at home

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Original article by
SBS News – Page: Online : 18-Sep-20

Industries that are disproportionately staffed by women have been the hardest hit by the coronavirus-driven recession, including retail and hospitality. Women have also have had to deal with most of the burden of remote learning and caring for family. Women who were made redundant are finding that a lack of flexible employment is forcing them to choose between returning to work and caring for their family. Adam Gregory, LinkedIn’s senior director for Australia and New Zealand, says the longer that women have to make this "impossible choice", the harder they will have to work in order to get back into the workforce.

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LINKEDIN CORPORATION