JP Morgan expect the Sydney lockdown to drag on economic activity, especially in the current quarter

I posted on the Sydney lockdown earlier and how this time it really is different, that is, there is no job/wage/business support in place from the Federal government:

(i.e. JobKeeper and what have you)

• Australia coronavirus - Sydney's escalating outbreak to prompt government job support again

Apparently, its on the way. Let's see.

Past lockdown in Australia seem to have passed by with little drag on the economy, indeed the bounce has been spectacular (so far). Again, let's see how we bounce of the Sydney lockdown (which won't be for a while, lockdown will be extended for a good while to come yet).