‘Levels not seen since the GFC’: NAB calls the retail recession. 74 122 comments . Documents reveal the Government looked at recovering HELP loans from deceased estates. 2 2 comments .. ‘Levels not seen since the GFC’: NAB calls the retail recession.
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"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. 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" Mr. Oster said.
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NAB’s chief economist has declared Australia’s retail sector is "clearly in recession". The verdict comes following the release of the NAB’s latest monthly business survey, which interviewed 550 private sector businesses from May 14 – 24.
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Domestic demand is declining due not to the long election campaign, but to the high levels. of recession was now 20 per cent, the highest probability in the post-war period that didn’t result in a.
/u/Horatio4040 on Levels not seen since the GFC’: NAB calls the retail recession There are two clear financial implications for investors, post Hayne. Firstly, credit growth in Australia in the past decade, which has all been in mortgages, was driven by an unsustainable increase in lending as a multiple of income, to a level (7x) not seen.
The May survey reported a bounce in confidence, while actual business conditions slumped to their lowest level in six years. Retailers in particular were suffering, reporting life for them was as.