20 August 2020 Alan Oster Podcast – Coronavirus and the economy

NAB Group Chief Economist Alan Oster talks about the latest impacts of the Coronavirus. Listen now.

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  • We released our latest consumption data this morning. For the week ended August 15, NAB data shows a -1.5% year-on-year decline in overall consumption spending – the first fall in weekly spending since the week ending May 2.
  • This was mainly driven by very sharp falls in VIC – particularly lockdown areas (down around 17%) – our data includes for the first time a full week of lockdown. Spending also slowed in other states, but was still positive (albeit barely in NSW, and TAS now out-performing).

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