Economics
Australia Shows the World What Post-Virus Recovery May Look Like
- Australia, N.Z. recoveries are under way with virus suppressed
- Consumers are now returning to restaurants, shops and offices
Shoppers and pedestrians walk through Rundle Mall in Adelaide, Australia, on Feb. 11.
Photographer: James Bugg/BloombergThis article is for subscribers only.
As the U.K, Europe and U.S. dare to dream about reopening and restoring their pandemic-ravaged economies, the theory that pent-up demand will drive a speedy recovery is being played out at the other end of the world.
Australia and New Zealand’s success in suppressing Covid-19 -- outside isolated flare-ups -- has sparked a snap-back in household and business sentiment, spurring activity and hiring and laying the ground for a sustained recovery. With vaccines being rolled out across the developed world, the prospect of a return to normal is tantalizingly within reach.