Australia parties like its 2007!

Monday, 21 December 2015

Over the weekend, Fairfax had a long story on how well Christmas sales are travelling:

Australians are now expected to blow close to $47 billion this year as the positive psychology – also driven by rising home prices – outweighs any concerns over sluggish wage growth and the disappointing performance of the stock market.

…In stark contrast to the bullish forecasts from the shop floors, investors in listed retailers aren’t sharing in the Christmas cheer.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.