Retail recession drives torrent of store closures

Friday, 10 January 2020

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.