Commentary This one you simply will not believe. The major business press this morning absolutely cheered to the heavens about the surprise explosion in retail spending in January. As I will show, it’s all a big fakeroo. “The consumer roared back in January,” wrote the Wall Street Journal, “with broadly higher retail spending on vehicles,…
Australian Retail Sales Record Sharpest Growth in Four Months Despite Inflationary Pressure
Despite growing living cost pressures Australian consumers are still maintaining their spending habits, with retail sales scoring a higher than expected gain in July. According to data from the Australian Bureau of Statistics (ABS), total retail turnover climbed 1.3 percent in July, far exceeding expectations of a rise of 0.3 to 0.4 percent from analysts….
Australian Retailers to Face A Gloomy Second Half of 2022
Economists have predicted that Australian retailers will see their sales slowing down in the second half of 2022 as consumers are reducing their spending due to living cost pressures and interest rate hikes. In its latest quarterly retail forecasts report, Deloitte Access Economics said it was likely that most of the growth in retail revenue…
Inflation Forcing Many Holiday Shoppers to Ditch Christmas Festivities
Many Americans plan not to embrace the holiday spirit this year, finds a new survey by consulting firm Deloitte (pdf). According to the annual study, 11.5 percent of Americans will not be spending anything on presents, gift cards, or any other items for entertaining. This is the highest percentage since the company began tracking consumers’…
Inflation Forcing Nearly 12 Percent of Americans to Ditch Christmas Gifts
Americans are changing their holiday shopping habits this year, finds a new survey by consulting firm Deloitte (pdf). According to the annual study, 11.5 percent of Americans will not be spending anything on presents, gift cards, or any other items for entertaining. This is the highest percentage since the company began tracking consumers’ holiday habits….
Australian Retail Spending Lifts on Buoyant Consumer Confidence
Australia’s economy is well on the road to recovery, as new economic data on retail spending shows strong levels of consumer confidence. Preliminary retail trade figures for March released by the Australian Bureau of Statistics surpassed economists’ expectation of 1 percent growth, revealing a 1.4 percent increase in retail sales. The rise was lead by…
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