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 …
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 …
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 …
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 …