Trend is down

It is too early to relax, but the trend of newly identified cases of Covid-19 is down.

Recoveries outnumbering new cases is grounds for cautious optimism.

Other trends are beginning to show the economic cost of the battle against the disease:

Spending on eating out and accommodation plunged more than $300 million or almost one-third in March in the wake of measures to slow the spread of COVID-19, Stats NZ said today.

Groceries had record-high sales in March, but retail card spending fell across the board during the month from clothes to fuel.

Total retail sales fell $231 million (3.9 percent) in March 2020, after adjusting for seasonal effects, the biggest fall on record in both percentage and dollar terms. . .

While these trends are down, business failures and job losses are trending up.

All of these will be leading to a decrease in the  (a survey shows 1/3 don’t expect to survive) tax take just when the demands for public spending are increasing.

One Response to Trend is down

  1. adamsmith1922 says:

    Reblogged this on The Inquiring Mind.

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