ECONOMIC COMMENTARY

NAB Group Chief Economist Alan Oster talks about the latest economic news. Listen now.

A rebound in Australia’s cotton industry has seen business cash inflows of NAB Agribusiness cotton grower customers surge since early 2021 on the back of booming production.

COVID 19 remains the main risk to the global economic outlook, while in Australia the key risks to our forecasts remain the timing and pace of the easing in restrictions, and further out, the underlying pace of growth as the impact of policy measures fades.

Strong economic growth in Q2 is set to falter in Q3.

COVID restrictions hit retail in August, building on existing imbalances in China’s economy.

A near term hit to GDP before the recovery continues.

Our data mapping points to another retail sales fall in August.

Confidence and conditions tick up.

This week’s consumption data results give us some cautious optimism for Q4.

NAB Group Chief Economist Alan Oster talks about the latest economic news. Listen now.

Despite many parts of the country remaining in some level of lockdown, the housing boom continued to roll on, with national home values rising another 1.5% last month.

Household consumption is almost back to pre-pandemic levels in Australia with Q2 GDP figures showing consumption is now just 0.3% below pre-pandemic December 2019 levels.