Retail recession has already wiped-out 161 stores in 2020

Friday, 17 January 2020

The September quarter national accounts revealed that real retail sales had recorded their first annual decline since the early-1990s recession:

Annual household consumption spending growth also slowed to only 1.2% – the lowest level since the Global Financial Crisis:

Whereas the private sector officially entered recession, with the economy operating on public sector life support:

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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.