Deloitte Access Economics says the Omicron variant manes the RBA forecast is too optimistic:
- Omicron spreading at a rapid rate
- half the workforce would likely miss an extra week of work in H1 of 2022
- “That is the main reason why our forecasts for 2022 are more modest than those of the RBA (released in) November,”
- Omicron weighing on everything from business investment … to borders
On a brighter they note:
- Omicron would not cause anywhere near the same economic pain as the first wave of Covid-19 in 2020 and the Delta wave last year
Info via local media on Deloitte's projections (may be gated)