A couple of comments out of CBA:
CBA household credit and debit card spending
- little changed over the week ending 21 August 2020
- 5.1% higher than a year ago (previous week: +3.6%/yr.)
- Online spending is up 26.2%
- In-store spending is down 3.8%
CBA's chief economist Stephen Halmarick on economic growth:
- GDP to shrink by 4.2% in 2020
- To grow by 1.8% in 2021
Projects 3 consecutive quarters of negative growth this year
- -0.3% (Q1)
- -6% (Q2)
- -0.7% (Q3)