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 OZschwitz highlight: Worst retail results for 50 years

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OZschwitz highlight: Worst retail results for 50 years Vide
PostSubject: OZschwitz highlight: Worst retail results for 50 years   OZschwitz highlight: Worst retail results for 50 years Icon_minitimeThu Aug 04, 2011 6:25 am
NSW has fallen victim to the two-speed economy, suffering a collapse in retail sales in a year in which the rest of Australia inched ahead.

OZschwitz highlight: Worst retail results for 50 years Vd-retail--hopping-408x264

Retail figures published yesterday show Australian sales rose a meagre 2.6 per cent during 2010-11 - the worst result for half a century, since the 1961-62 recession.

And a push by struggling retailers to have the GST applied to more foreign goods bought over the internet is not expected to be endorsed today when the Productivity Commission releases its draft report into the retail sector.

When adjusted for inflation, national sales barely grew, rising 0.6 per cent, much less than the rate of population growth.

http://www.smh.com.au/business/worst-retail-results-for-50-years-20110803-1ibvc.html
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