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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.

‘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. Ben Rankin – Labor in Nanango.

The major banks also saw red despite NAB edging. We’re not sure that can last.” “Both globally and Australia, earnings revision ratios have hit net upgrade territory – the highest since the GFC.

‘Levels not seen since the GFC’: NAB calls the retail recession June 14, 2019 The bell has tolled for the ailing retail sector, with the National Australia Bank declaring the industry is "clearly in 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%

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"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," NAB chief economist alan oster said.