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Retail sales figures are key for tracking people returning to shopping following COVID-19.
With most of the world moving towards reopening, we would expect retail sales to increase substantially if we are to have a U-shaped recovery.
So far major retailers reporting in the world’s economy show that sales bottomed out around the middle of April, and have been increasing substantially each week since.
Major non-essential retailers such as Kohl’s and Dixie Group in the US reported recently that sales have been increasing, and expect to be back to normal levels by the end of the quarter. Are those trends repeating in other countries?
New Zealand is Giving us Stale Data
First to report in the wee hours of the morning is New Zealand.
Expectations are for quarterly retail sales to come in at 1.0% compared to 3.3% prior. However, this is data corresponding for the first three months of the year, before New Zealand had major restrictions on movement.
The data is likely going to ref...
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