Retail sales volumes have now fallen for three consecutive quarters – the first time this has occurred in 15 years.
Sales fell 0.5% in the June quarter, after falling 0.8% in the March quarter and 0.4% in the December quarter, according to the latest data from the Australian Bureau of Statistics.
That points to a clear slowdown in the economy. But it’s unclear if a recession is coming, as the picture is mixed.