Retailers just got through the pandemic, but the cost of living crisis is going to make things tough for the next year
Retailers just got through the pandemic, but the cost of living crisis is going to make things tough for the next year
24 June 2022
ASB Bank estimates aggregate household outgoings will lift to 15 billion dollars over the next 18 months, when factoring in the cost of living.
It's roughly equivalent to nine percent of retail sales.
Senior Economist Mike Jones says it's looking like spending patterns will tighten up considerably.
He says we're potentially looking at some pretty weak retail and consumer spending numbers later this year.
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