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Business, Economics

La Nina > Finally winding down

There’s a number of reasons why Australia’s retail sector is struggling, stemming from the popularity of online sales, to rising rents and low consumer confidence.

La Nina is another.

It’s a weather event which is typically associated with above average rainfall and below normal daytime temperatures during much of the summer.

The unseasonal weather has stalled some sales as the temperature played havoc with seasonal fashions. (But I have bought two umbrellas this summer so far.)

The good news is, that summer might be making a late comeback.

In it’s La Nina update today, the Bureau of Meteorology says that while La Nina conditions remain, some indicators have weakened over the past two weeks.

But the best part is, that the BOM says models indicate a gradual decline of the current La Nina, with most models suggesting an end of the current event during the autumn season.

That’s likely to mean we’ll get a late summer on the east coast of Australia.

As for our retailers, well we won’t know exactly what kind of an impact La Nina had on the Christmas sales for a few months. Official statistics for January won’t be out until March.

MEMO>ricardo

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