Retail trade slumps on COVID-19 lockdowns, ASX drops as oil prices hit three-year high
3 years, 3 months ago

Retail trade slumps on COVID-19 lockdowns, ASX drops as oil prices hit three-year high

ABC  

The Australian market has fallen sharply, as oil prices jumped to a three-year high and prolonged COVID lockdowns across the nation led to another slump in retail sales. Key points: The ASX 200 has dropped 3pc since the month began Retail turnover fell 1.7pc in August Brent crude has surged 52pc since January 1 The benchmark ASX 200 closed 1.5 per cent lower at 7,276 points, wiping out all its gains from the past week. Retail turnover fell 1.7 per cent to $29.3 billion in August, following a 2.7 per cent slump in July and a 1.8 per cent slide in June. But the ACT fared even worse as a snap lockdown on August 5 led to the territory's 19.9 per cent drop in retail turnover. "Since May, covering a three-month period, spending on clothing & footwear has declined by 35 per cent, with department store spending down 26 per cent and cafes & restaurants down 23 per cent.” Oil surge boosts energy sector Energy stocks were boosted by oil prices, which surged for a sixth straight day, as investors fretted about tighter supplies because of rising demand in parts of the world.

Retail Stocks Oil Oil Prices High Month Cent Led Nsw Dow Photo Turnover Retail Turnover  prices  slumps  oil  drops  turnover  month  cent  led  retail  lockdowns  output  threeyear  trade  hit  stocks  high

History of this topic

Retail sales rise solid 0.7% in September, reflecting US shoppers’ resilience despite higher prices
1 year, 2 months ago

Retail sales rise solid 0.7% in September, reflecting US shoppers’ resilience despite higher prices

Associated Press  

NEW YORK — Americans showed their steadfast resilience and kept spending online, at restaurants and other outlets in September even as they grappled with higher prices, rising interest rates and a host of other headwinds piling up. Tuesday’s sales figures aren’t adjusted for inflation, but the cost of goods barely rose last month, so the increased spending isn’t a reflection …

The risk of Australia entering recession has just risen
1 year, 11 months ago

The risk of Australia entering recession has just risen

ABC  

There are early signs Australia's economy is buckling under the strain of inflation and cost-of-living pressures. "As regards consumer spending specifically, a sharp curtailment due to higher interest rates and weaker house prices remains the major downside risk for the economy this year." Economists predict that despite recent drops in retail sales and house prices, the Reserve Bank will likely …

Australian retailers had a worse-than-expected Christmas as cost of living pressures bite
1 year, 11 months ago

Australian retailers had a worse-than-expected Christmas as cost of living pressures bite

ABC  

There are clearer signs that consumers are feeling the pain of high inflation and successive interest rate hikes as Australian retailers have posted their first drop in sales in almost a year. Key points: Retail turnover in fell 3.9 per cent in December Turnover rose 7.5 per cent, compared to December 2021 Markets have priced in an 84 per cent …

US retail sales rose 0.3% in February as high prices take a bite
2 years, 9 months ago

US retail sales rose 0.3% in February as high prices take a bite

Al Jazeera  

Many retailers are bracing for how the war in Ukraine will worsen supply shortages, with reports already surfacing of limited supplies of wheat, metals, and electronic chips. Retail sales increased 0.3 percent after registering a revised 4.9 percent jump from December to January, driven by wage gains, solid hiring and more money in banking accounts, according to the Department of …

Christmas retail cash splash expected as Australian shoppers raid COVID-19 savings
3 years, 1 month ago

Christmas retail cash splash expected as Australian shoppers raid COVID-19 savings

ABC  

Despite months of lockdowns, lost incomes and travel restrictions this year, most Australians are expected to splash their stash of cash this Christmas. Key points: Commonwealth Bank's Household Spending Intentions Index has risen to its highest level since before the pandemic The country's biggest lender predicts Australians have $240 billion in excess savings due to the pandemic Shoppers spent more …

Australia's economic decline smaller than feared during latest east coast COVID lockdowns
3 years, 1 month ago

Australia's economic decline smaller than feared during latest east coast COVID lockdowns

ABC  

Australia's economy has recorded its third-biggest fall on record, as COVID lockdowns shut economic activity across the mainland's south-east. Key points: Australia's GDP fell 1.9 per cent in the September quarter, but economists had expected a 2.7 per cent slide A 4.8 per cent slump in household spending led the drop, due to lockdowns across the south-east Household saving rose …

Australian economic growth better than expected as nation's GDP returns from COVID recession, but lockdowns bite
3 years, 4 months ago

Australian economic growth better than expected as nation's GDP returns from COVID recession, but lockdowns bite

ABC  

Australia's economy bounced back from the COVID recession, with national growth rising 9.6 per cent over the year to June. The nation's economy rose 0.7 per cent in the June quarter, according to Australian Bureau of Statistics data, compared with a 1.9 per cent increase in the first three months of the year. Impact of lockdowns will show in September …

UK retail sales fall sharply despite easing COVID pandemic curbs
3 years, 4 months ago

UK retail sales fall sharply despite easing COVID pandemic curbs

India TV News  

The UK's retail sales volumes fell by 2.5 per cent in July from June despite the easing of coronavirus restrictions, but still 5.8 per cent higher than the pre-pandemic levels in February 2020, the Office for National Statistics said. Food store sales volumes dropped monthly by 1.5 per cent in July, following an increase in the previous month when sales …

Consumers lose confidence, retail sales dive as businesses fear they may have to close for good
3 years, 5 months ago

Consumers lose confidence, retail sales dive as businesses fear they may have to close for good

ABC  

Surrounded by Batman, Black Widow and Godzilla, Jeff Xuereb does not look like he's in trouble. Key points: Consumer confidence is down sharply in data collected on the weekend It’s down most in cities and states not in lockdown Business owners lament the end of wage subsidy JobKeeper But the owner of Go Figure Collectables has been hammered by the …

Retail footfall one-third lower than pre-Covid level despite shop re-openings
3 years, 8 months ago

Retail footfall one-third lower than pre-Covid level despite shop re-openings

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Retail footfall in April was 240.8 per cent higher …

Retail sales slump in November amid lockdown
4 years ago

Retail sales slump in November amid lockdown

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Retail sales in Britain slumped …

Retail sales fell 1.1% in November, biggest drop in 7 months
4 years ago

Retail sales fell 1.1% in November, biggest drop in 7 months

Associated Press  

NEW YORK — Americans held back on spending during the start of the holiday shopping season, a troubling sign for retailers and the state of the U.S. economy. U.S. retail sales fell a seasonally adjusted 1.1% in November, according to the U.S. Commerce Department. The Commerce Department on Wednesday also revised October’s report, saying that retail sales fell 0.1% that …

Retail inflation to come down with easing of lockdowns: CEA
4 years, 3 months ago

Retail inflation to come down with easing of lockdowns: CEA

The Hindu  

Attributing the rise in inflation to supply-side frictions, Chief Economic Adviser K V Subramanian has exuded confidence that retail inflation will come down in the days ahead with the easing of lockdowns. According to the government data, retail inflation rose to 6.93% in July, mainly driven by rising prices of food items like vegetables, pulses, meat and fish. “Overall, the …

Oil prices slip on demand fears as virus cases surge
4 years, 6 months ago

Oil prices slip on demand fears as virus cases surge

Deccan Chronicle  

MELBOURNE: Oil prices dipped on Thursday after the United States recorded its biggest one-day spike in coronavirus cases and California reimposed some lockdown measures, stoking worries a resurgence in COVID-19 cases will stall a recovery in fuel demand. New U.S. COVID-19 cases rose by nearly 50,000 on Wednesday, according to a Reuters tally, in the biggest one-day spike since the …

ASX falls despite rise on global markets, record for Australian retail sales
4 years, 8 months ago

ASX falls despite rise on global markets, record for Australian retail sales

ABC  

The Australian share market has closed lower despite some retail stocks rallying after a record surge in sales and a positive lead from overseas markets. Key points: The Australian share market has closed lower despite US and European stocks gaining overnight The Australian share market has closed lower despite US and European stocks gaining overnight Retail turnover rose 8.5 per …

Australian shares follow Wall Street lower as US economy faces deep recession because of coronavirus
4 years, 8 months ago

Australian shares follow Wall Street lower as US economy faces deep recession because of coronavirus

ABC  

The Australian share market has closed lower, after oil prices dropped to the lowest level in 18 years and economists ramped up warnings about the impact of coronavirus on the US economy. Key points: The Australian share market has closed lower, following a weak lead from Wall Street The decrease in US retail sales in one month was almost equal …

Coronavirus sees retail sales rise in February as Australians stockpiled groceries and pharmaceuticals but clothing sales fell
4 years, 9 months ago

Coronavirus sees retail sales rise in February as Australians stockpiled groceries and pharmaceuticals but clothing sales fell

ABC  

Retail sales rose in February but the devil was in the detail, with the impact of the coronavirus pandemic already evident, and economists warning that a short-term boost from panic buying and stockpiling will not last. Key points: The ABS says retail turnover rose 0.5 per cent in February Supermarket and grocery store sales rose 1.1 per cent and department …

Retail sales hurt by bushfire crisis, but no sign of coronavirus yet
4 years, 10 months ago

Retail sales hurt by bushfire crisis, but no sign of coronavirus yet

ABC  

Australia's summer bushfire crisis has led to a rough start to the year for retailers but the coronavirus has shown "no apparent impact" so far, according to the latest official figures. Key points: Bushfires were the main reason for retail sales dropping 0.3pc in January It comes after a weak December, with the ABS revising the result to an even …

Retail slump 'off the scale' as stunted wage growth and bushfires turn shoppers off
4 years, 10 months ago

Retail slump 'off the scale' as stunted wage growth and bushfires turn shoppers off

ABC  

The last few months have been the worst on record for some Australian retailers, like homewares chain Ishka, which went into administration last week. Key points: Ishka CEO Toby Darvall says "a perfect storm" of conditions has made things incredibly tough for Australian retailers He said consumers have not been spending due to the bushfires plus concerns about job security, …

Australia enjoyed a mini economic boom in February as retail sales recovered, exports surged
5 years, 9 months ago

Australia enjoyed a mini economic boom in February as retail sales recovered, exports surged

ABC  

It might be just one month, but February was something of a mini-boom for the Australian economy with retail sales bouncing back and a record trade surplus being racked up. Key points: The retail recovery bucked recent trends with department stores, household goods and clothing seeing the biggest gains Queensland reported the biggest growth in sales, while Tasmania was the …

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