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

The data from major bank nab comes a week after the Reserve Bank was forced to cut interest rates to its lowest level in history and Australian Bureau of Statistics data showed the economy had slowed to its weakest level since the global financial crisis in 2009.Saving Account tiers minimum balance from $5 to $5 High APY 0.05% Low APY 0.05%

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".

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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 retail landlords, and tenants.

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