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‘Levels not seen since the GFC’: NAB calls the retail recession The bell has tolled for the retail sector, with the bank declaring the industry is "clearly in recession". It’s a headache for retail landlords, and tenants.
The retail. in recession", NAB reported. "This has come as no surprise given the trends in household consumption and retail sales data. "In seasonally adjusted terms, conditions in the retail.
In the NAB Monthly Business Survey for May, Mr Oster says while the retail industry has lagged the other sectors for some time, "the recent deterioration has seen conditions in the industry fall to levels not seen since the GFC".
In figures such as released today, the NAB index for business conditions dropped two points in May and left it well below the long-term average. Considering NAB Economics podcast, the NAB group’s chief financial officer Alan Oster agreed that the australian retail trade was now "GFC-level dreadful".
"While the retail industry has lagged the other sectors for some time, the recent deterioration has seen conditions in the industry fall to levels not seen since the GFC," he said. "This suggests that the consumer remains highly cautious with anything but spending on essentials because of ongoing slow income growth, high debt levels and possibly some concerns over falling house prices."
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National Australia Bank says the country’s retail industry is "clearly in recession" and business conditions in WA are the worst of any State. "While the retail industry has lagged the other sectors for some time, the recent deterioration has seen conditions in the industry fall to levels not seen since the GFC," NAB chief economist.
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"The annual rate of retailing values stands near levels not seen. since the GFC. But as there are no economics related speeches by RBA officials ahead of the next board meeting on June 6 we can’t.
‘Levels not seen since the GFC’: NAB calls the retail recession The bell has tolled for the retail sector, with the bank declaring the industry is "clearly in recession". It’s a headache for retail landlords, and tenants.
The Ultimate Truth about Housing Affordability The Ultimate Truth about Housing Affordability. by Alli Roth | May 30, 2019 | First time home buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers. There have been many headlines decrying an "affordability crisis" in the residential real estate market. While it is true.