The good news just keeps rolling on for Australian agriculture, with already very good seasonal conditions boosted by the increasing possibility of a La Nina event, combined with ongoing commodity price strength.
Conditions and confidence hit by lockdowns in Q3.
The first full week of Sydney reopening and NSW jumped (up around 15% in the week – reflecting hospitality and personal services (e.g. hairdressers) reopening, but other states showed weakness.
Waiting for the rebound after Q3 lockdowns.
Confidence rebounds on the back of roadmaps, vaccination.
Encouraging news on the data front this week.
The Fed is set to taper – but rate hikes are still a way off
COVID 19 continues to be the main driver of growth both in the recovery phase and as the Delta variant spreads. With vaccines looking promising 2021 looks like being a bounce back year.
A near term hit to GDP before the recovery continues.
Confidence and conditions tick up.