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

• The virus situation in Victoria continues to cause concern, with some areas now locked down and reports that the VIC-NSW border will close tomorrow. It is probably too early to say what economic impact this will have. Retail spending in Australia is now essentially back to pre-crisis levels.
• Virus news from the US and Brazil continues to be grim. It is likely that planned US reopenings will now be delayed and possibly reversed.
• Next week we will release our Monthly Business Survey for June, as well as updated economic forecasts and retail trade data.

Listen to the full podcast now.