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Bushfires, Coronavirus Threaten Australian Retail

Bushfires, Coronavirus Threaten Australian Retail

SYDNEY — Australia was already impacted by its worst drought on file. However the devastating bushfire season, now compounded by the coronavirus outbreak, has made for a summer season horribilis.
Based on Australian Bureau of Statistics figures launched Thursday, retail turnover for the month of December fell 0.5 % to 27.77 billion Australian {dollars}, or $18.74 billion, seasonally adjusted, following a 1 % acquire in November, fueled by Black Friday and Cyber Monday gross sales promotions.
Australian Retailers Affiliation government director Russell Zimmermann mentioned whereas year-over-year progress was the important thing index when deciphering retail gross sales information — 2.66 % progress in December, a outcome he described as “pedestrian” and “disappointing” — month-over-month falls in malls (down 2.eight %); clothes, footwear and private equipment (down 1.5 %) and family items (down 0.three %) — three of the 4 worst December outcomes, in classes the place November retail occasions have been broadly promoted — underlined the purpose that December gross sales have been doubtless pulled ahead.
“The same issue appears evident the place bushfires are involved, with the worst month-to-month leads to South Australia (down 1.34 %) and New South Wales (down 1.24 %) occurring in two of the states worst affected by bushfires,” mentioned Zimmermann.
The ARA additionally anticipates that January’s

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