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Lockdowns a heavy blow on economy: PM
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It s Gonna Be Quite Awful : Sydney s Small Businesses Say Lockdown Repressive
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Locked-down retailers call for landlords to share the pain
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Retail sales plunged in June as the country headed towards lockdown – and July is set to be even worse Ronald Mizen, AFR
End of financial year sales failed to stave off the coronavirus blues in June, with retail trade falling 1.8 per cent as lockdowns across Australia restricted movement and forced stores to temporarily close their doors.
The fall in trade will intensify in July with Sydney’s lockdown likely to be extended, Melbourne plunged into two weeks under stay at home orders, and a seven-day freeze on movement in South Australia.
“As the risks of a long Sydney lockdown increase, so do the risks of a muted recovery, particularly since fiscal support is not as strong as it was during the long Melbourne lockdown in 2020,” ANZ’s Adelaide Timbrell said.
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Australian Retailers Association chief executive Paul Zahra said the drops in confidence and spending were no surprise and the worst was still to come.
“Two weeks ago, national cabinet agreed that lockdowns would be used as a last resort to managing new COVID outbreaks, but they appear to be with us for the rest of the year given concerns with the delta variant,” Mr Zahra said.
“We’ve seen 68 days of state-imposed lockdowns already in 2021 and there’s no doubt that number will continue to climb.”
Concerning falls
EY chief economist Joanne Masters said Bureau of Statistics preliminary retail trade data for the last month of the financial year showed concerning falls of 3.5 per cent in Victoria and 2 per cent in NSW.