A new report from Deloitte Access Economics has revealed that Australian retailers can sleep a little easier in the second half of the year due to tax offsets.
The company also stated that retail turnover would increase from 2.2 percent to 2.9 percent by 2020.
Deloitte Access Economics partner and Retail Forecasts principal author David Rumbens said that “March quarter retail data confirmed our view that consumers are just not willing to spend as they once were,” he said. “While the first half of the year is constrained by weak income growth, the latter half will likely receive a boost as monetary and fiscal stimulus work together for the first time in over a decade.”
