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

• ABS data this week showed a sharp reduction in payrolls but a record jump in retail sales in March as consumers stocked up on food and drink.
• There is a small chance that Q1 GDP will be positive, although this is not our central case. Overall we are in the midst of a sharp recession.
• Australia’s fight against the virus continues to show success, with very low case growth. We still expect it will be some time before the economy is re-opened.

Listen to the full podcast now.