Business
Australian retail suffers worst quarter in 20 years – The New Daily
Shop owners have experienced their worst quarter of sales since the introduction of the GST in the Septemnber 2000 quarter.
Shop owners have suffered their worst quarter of sales since the introduction of the GST 20 years ago, with real turnover plunging 3.4 per cent over the three months to the end of June.
And with businesses continuing to shed jobs and government stimulus unwinding from October, economists have warned retailers to brace for even tougher times ahead.
The worst quarterly result in two decades came despite a record monthly sales bump of 16.9 per cent in May and growth of 2.7 per cent in June, as re…
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