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.