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Fairfax’s senior business columnist, Stephen Bartholomeusz, believes that recent earnings downgrades at Target, Kmart and Wesfarmers is pointing to “recession-like” conditions for the retail sector:
The broader retail environment is recessed – non-food retail sales were falling in the lead-up to the Federal election and the economy is growing at its weakest rate since the financial crisis…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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