Mr Godwin said while the recent rise in retail insolvencies was concerning, it was "not surprising", and he predicted more businesses would shut their doors by the end of June.
But there could be positive news on the horizon, with data from NAB's latest business survey indicating the worst might be over for retailers.
"Business conditions in retail have been low for some time … but there's been a bit of an improvement in forward orders and confidence for March," senior economist Brody Viney said.
"We do think the period of slower consumer spending will continue a bit longer. Our expectation is it'll improve more in later 2024."
Mr Godwin said while the recent rise in retail insolvencies was...
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| TYR (ASX) Chart |