/u/Horatio4040 on ‘Levels not seen since the GFC’: NAB calls the retail recession

"While the retail industry has lagged the other sectors for some time, the recent deterioration has seen conditions in the industry fall to levels not seen since the GFC," he said. "This suggests that the consumer remains highly cautious with anything but spending on essentials because of ongoing slow income growth, high debt levels and possibly some concerns over falling house prices."

"While the retail industry has lagged the other sectors for some time, the recent deterioration has seen conditions in the industry fall to levels not seen since the GFC. This suggests that the consumer remains highly cautious with anything but spending on essentials because of ongoing slow income growth, high debt levels and possibly some concerns over falling house prices" Mr. Oster said.

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‘Levels not seen since the GFC’: NAB calls the retail recession Rich Capital in process of getting $2m advance payment guarantee from associate PRESS DIGEST-New York Times business news – June 14 Epicentre must get SGX RegCo’s nod before appointing director or executive officer

In the NAB monthly business survey for May, Mr Oster says while the retail industry has lagged the other sectors for some time, "the recent deterioration has seen conditions in the industry fall to levels not seen since the GFC".

I am a greybeard now, but there is a whole generation of adults that have never seen a recession out there. When one finally arrives (possibly soon) its not going to be pretty. huge mortgages and consumer credit will destroy many people financially.

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‘Levels not seen since the GFC’: NAB calls the retail recession The bell has tolled for the retail sector, with the bank declaring the industry is "clearly in recession". It’s a headache for.

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‘Levels not seen since the GFC’: NAB calls the retail recession. 74 122 comments . Documents reveal the Government looked at recovering HELP loans from deceased estates. 2 2 comments .. ‘Levels not seen since the GFC’: NAB calls the retail recession.

In figures such as released today, the NAB index for business conditions dropped two points in May and left it well below the long-term average. Considering nab economics podcast, the NAB group’s chief financial officer Alan Oster agreed that the Australian retail trade was now "GFC-level dreadful".