"The announcement of a seven-day lockdown in Victoria in response to an outbreak of COVID-19 has impacted consumer confidence around the country," ANZ Head of Australian Economics, David Plank said.
"Confidence fell 3.8 per cent in Melbourne, but was actually down more sharply in Brisbane (-4.7 per cent) and Sydney (-4.5 per cent)."
"ANZ-Roy Morgan survey data show short lock-downs don’t have a lasting impact on consumer sentiment. Nor has Victoria’s experience of lockdowns in 2020 driven a wedge between sentiment in that state and the rest of the country."
"This offers the prospect that even an extension of the current lockdown may not have too dramatic an impact on consumer sentiment. Of course, the absence of JobKeeper for this episode means we need to alert to worse results than the experience to date."