Business confidence fell 5pts to -4 index points, with significant falls in recreation & personal services, transport & utilities, construction and manufacturing.
Report
August 4, 2020
4 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.
- Melbourne is now under stage 4 restrictions, with major impacts for which businesses can remain open. It is early days but this could see a 10%+ hit to Victorian GSP.
- It is uncertain how long the restrictions will last and how effective they will be. But it seems clear that economic activity will be hit for longer – into next year – and that unemployment will be higher. We will bring you our latest fortnightly consumption data on Thursday and the monthly business survey next Tuesday.
Listen to the full podcast now. If listening on a mobile device, click listen in browser.
