KPMG predicts Australian retail recovery to mid-2025 due to consumer spending hesitance from inflation and high interest rates.
KPMG has revised its expectations for Australia's retail sector recovery, now predicting it may take until mid-2025 for the industry to regain its health. The slow recovery is attributed to consumers' hesitance to spend due to inflation and high interest rates. Retail turnover for the December quarter grew at half the rate of the previous year, with KPMG tracking a "retail recession" for 12 months.
March 24, 2024
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