A lethal cocktail of inflation, higher interest rates and surging food and power costs look set to crimp consumer spending, leading to predictions that retailers will soon face the toughest conditions in more than a decade.
“It’s easy to see why consumer confidence is back to GFC levels. Increasingly, we think [Financial year] 23 will be as difficult as FY19, potentially worse in some categories,” he wrote in a note to clients. JB Hi-Fi shares fell 5.7 per cent for the session to $39.31, while Harvey Norman was 5.4 per cent lower to $3.86. Supermarket giant Wesfarmers also weighed down a struggling market, losing 3.8 per cent for the session.Alex Ellinghausen
“Household savings [also] remain up on pre-pandemic levels, which will assist in cushioning the blow from the cost of living pressures many are experiencing,” he said. Airlines are also keeping a close eye on whether recession fears will dampen appetite for domestic and international travel, which has rebounded strongly.that he was “following with great concern” global events like the war on Ukraine, which have pushed up the price of oil and fuel. A plane built for international trips, like a Boeing 747, will use 4 litres of fuel a second.
Life goes On .. we have seen all this before. It will come and then go with the world still here.
Good, they rode the handouts so they should have cash in the bank
Who’s the hypocrite? First rule… don’t be one