Households saving less for first time since 2008

📆 9/9/2023 10:24 AM
📰 SkyNewsAust

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Latest data from the ABS reveals households are saving less for the first time since 2008. Australian Retailers Association Chief Executive Paul Zahra says most businesses are ordering less stock for Christmas this year. Some chains have reduced stock orders in a bid to cut down on excess inventory in warehouses and stores. The subdued festive period is being attributed to the cost-of-living crisis. High mortgage repayments will also be a factor in this year’s quiet Christmas.

Latest data from the ABS reveals households are saving less for the first time since 2008.

Australian Retailers Association Chief Executive Paul Zahra says most businesses are ordering less stock for Christmas this year. Some chains have reduced stock orders in a bid to cut down on excess inventory in warehouses and stores.High mortgage repayments will also be a factor in this year’s quiet Christmas.

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