MacroBusiness
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CBA’s chief economist, Gareth Aird, with the note:
Overview
For most of H1 21 Australia looked on track to live up to its namesake as “the lucky county”. Economic outcomes were strong, COVID-19 was by and large not circulating in the community and the vaccine rollout was moving forward, albeit slowly. We appeared very much on course to end the year with an unemployment rate of ~4.5% and the vast majority of the adult population vaccinated. Australian exceptionalism would once again shine and the world would look upon us with envious eyes and wonder how exactly we pulled it off.