Harvey Norman sales tank

Monday 27 February 2023

The Harvey Norman half-year release is full of growth blah, blah but look at the table:

And that’s with rampant inflation. Ouch!

A bad sign for January retail at 11.30. Beyond that. this is where the fixed-rate hammer will fall hardest: consumer discretionary.

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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.