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What an absolute shocker retail is enjoying. The April 2024 seasonally adjusted estimate missed markets’ meager hope for 0.2%:
- Rose 0.1% month-on-month.
- Rose 1.3% compared with April 2023.
Turnover is flatlined for twenty months:
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Folks looking for a bargain in “other”?
Add inflation of 4% and population growth of 3%, and we have real retail sales running at around -6%.
Life won’t be easy under Albanese!
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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.
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