Commentary The flow of economic data has so far made June a good news month for Australia, notwithstanding the abrupt resumption of COVID-19 restrictions had on economic activity in our second-largest state. National accounts—which provide the most comprehensive reading of the economic pulse—reported that the first quarter of 2021 was the third straight quarter of outsized growth, which lifted GDP to a level almost one percent above where it was at the end of 2019 before the pandemic started to affect the economy. Employment likewise has exceeded its pre-pandemic level. Australia is one of the very few countries in the world that can boast of such outcomes. Then, one of the prominent credit rating agencies, Standard and Poor’s, announced it was removing the “negative outlook” caveat it had slapped on the Australian government’s AAA rating during the financial turmoil of 2020. Few other countries in the world enjoy a pristine …