Australian retailers suffer worst quarter in two decades, exports shine Swatisays Wayne Cole
SYDNEY - Australia’s retailers are facing a consumption drought as the country’s second biggest state locks down to fight the coronavirus and as data showed sales volumes suffered their biggest plunge in two decades in the second quarter.
The larger-than-expected drop suggests consumer spending will be a drag on gross domestic product growth in the June quarter. Economists warned the outlook was clouded by a second wave of coronavirus infections in the state of Victoria, with weekly spending data by the country’s major banks already showing signs of moderation.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Virgin Galactic reports another quarterly loss, aiming to fly Richard Branson in early 2021Space tourism venture Virgin Galactic reported second quarter results after the bell on Monday.
Weiterlesen »
Japan utilities expect slow power demand recovery, cautious on outlookJapanese utilities expect a slow recovery in electric power demand toward March after a 5% drop in the April-June quarter though some are less confident that the worst is over.
Weiterlesen »
HSBC Profit Slumps on Coronavirus, Trade TensionsHSBC’s net profit fell in the second quarter as the impact of the coronavirus pandemic complicated the bank’s efforts to refocus on Asia while dealing with rising U.S.-China political tensions.
Weiterlesen »
SocGen posts earnings miss as it sets aside more for coronavirus-related loan lossesSociete Generale reported a net loss of 1.26 billion euros for the second quarter of the year, missing market expectations.
Weiterlesen »
Japan first quarter GDP unchanged at 2.2% annualised contraction after second revisionJapan's economy shrank an annualised 2.2% in January-March, unchanged after a second revision, data from the Cabinet Office showed on Monday.
Weiterlesen »
Ferrari trims full-year outlook after earnings skid in second quarterLuxury carmaker Ferrari trimmed its full-year earnings forecast on Monday after second-quarter income plunged due to supply chain and production disruptions during the coronavirus pandemic.
Weiterlesen »