Evidence grows of Aussie consumption crunch

Wednesday 9 January 2019

Via the AFR:

“Foot traffic appears to have been weak as shoppers continue to shift December shopping trips online and pull forward purchases into Black Friday in November,” said Citi in a note reviewing the past Christmas season.

…James Stewart, partner at Ferrier Hodgson, said retailers still relied on discounts to “clear their products, otherwise they would have a liquidity crisis”.

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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.