ECONOMIC COMMENTARY

Towards the future of the Australian, Asian and global economies: latest updates on domestic, international and industrial trends from NAB Group Economics.

BUSINESS surveys

Conditions continue to recover, but confidence remains fragile.

The impact of COVID-19 sees a large deterioration in conditions.

Both business conditions and confidence continued to rebound in June – though it is important to note they are still weak in level terms.

INSIGHTS, TRENDS AND CASE STUDIES

The global economy continues to recover from the impact of COVID-19. However, there is still a long way back with progress. In Australia, we have downgraded our forecasts due to the containment measures in Victoria.

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

Global recovery continues but it is uneven and still a long way back to ‘normal’.

Our internal data point to a moderate decline in July, having stabilised at a surprisingly buoyant level after the rollercoaster earlier this year.

Commodity markets have continued to display differing trends.

Conditions continue to recover, but confidence remains fragile.

Record low interest rates, government support and loan repayment holidays for distressed borrowers have helped to insulate the housing market from a more significant downturn.

Medium term outlook buoyed by positive growth in the Industrial sector despite challenging outlook across Office & Retail asset classes.

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

NAB data for the week ended August 1 suggests the trend decline in consumption spending seen in recent weeks has continued.

VIC virus shutdown makes the outlook significantly worse with no quick bounce back, with unemployment and poor confidence big issues.

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

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