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Possibility of recession1 pexels mikhail nilov 6963924

Australia is thought to have weathered the COVID storms economically better than most countries. However, lockdowns have had an impact on work and economic data for the September 2021 quarter could show shrinkage, according to Deloitte.

It is expected that increasing vaccinations and re-opening of businesses could lead to some recovery, the shape of which is yet to be seen.

pexels karolina grabowska 5632382An Online Christmas Boom?2

Almost half of Australians are expected to buy Christmas presents online and, despite uncertainty, most expect to spend the same or more than last year.

The research is encouraging for retailers, who make a great deal of their profits over the Christmas period. Small businesses have been hard hit by lockdowns, yet the outlook for Christmas appears more optimistic.

Rising vaccination rates and reopening will only help consumer confidence.

1 Very real chance we have entered recession
2 Bumper Christmas to provide online boost for retailers.