Omicron - one step forward, two steps back for economic recovery
But, according to the head of Private Wealth Research at Craigs Investment Partners Mark Lister, Omicron is unlikely to derail the economic recovery and will probably be another setback in the "two steps forward, one step back" reality of living with the virus.
However, it might still prove troublesome.
ASB senior economist Jane Turner says it is too early to know what the degree of threat the new variant will pose, "...but it is a timely reminder that the pandemic is far from over and many uncertainties and risks remain".
"We should expect further weakness in the short-term, especially with many markets having performed so well and with major indices close to record highs," Lister says.
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