Research: Retail recovery on the way
New data compiled through analysis of CHEP pallet movements has found that year-on-year retail turnover growth will improved to 3.9 per cent in August, after clocking in 2.9 per cent growth in June.
Deloitte Access Economics partner David Rumbens said labour market conditions are tightening, putting upward pressure on wages.
“Retailers continue to face difficult conditions in 2018. We do expect wage growth to edge higher through the year as the labour market tightens a little, and stronger wages will be good news for retail spending, driving a modest but broad-based pick-up in spending power across the workforce,” he said.
On a quarterly basis retail turnover is predicted to grow by 2.9 per cent year-on-year in the June quarter, increasing to 3.9 per cent y.o.y. in the August 2018 quarter.
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