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The retail recession afflicting Australia has been well documented.
Retail sales volumes registered their first annual decline since the early-1990s recession in the September quarter:
Whereas household consumption spending growth slowed to just 1.2% in the year to September – the lowest level since the Global 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.