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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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"I haven’t seen this type of volatility and this extraordinary turnaround. this is getting new levels of volatility, even post-GFC days, so it’s been an extraordinary day," he told ABC News. may.
NAB’s chief economist has declared Australia’s retail sector is "clearly in recession". The verdict comes following the release of the NAB’s latest monthly business survey, which interviewed 550 private sector businesses from May 14 – 24.
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‘Levels not seen since the GFC’: NAB calls the retail recession. 74 122 comments . Documents reveal the Government looked at recovering HELP loans from deceased estates. 2 2 comments .. ‘Levels not seen since the GFC’: NAB calls the retail recession.
"Some investors are more bearish; they see Australia as the next ‘Big Short’," Mr Minack said. Mr Minack says the bear case on Australia is easy to make. "House prices are at nosebleed levels relative.
"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.
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