In today’s podcast, NAB Group Chief Economist Alan Oster discusses the following:

• Our latest online retail data is out this morning and shows growth taking a break in May, although the index is up in the order of 50% over the year.
• It is likely that good deal of the recent growth in online retail will remain post-pandemic, with a structural change in how people shop.
• More concerning news in virus cases in Victoria has seen a lockdown reimposed in parts of Melbourne. This is likely to dent the economic recovery, but uncontained spread of the virus would be an economic disaster.

Listen to the full podcast now.