Is retail back in business?

After a horror stretch, there is some light at the end of the retail sales tunnel.

When looking for growth in non-mining investments to fill the gap left by the mining investment boom, retail sales are critically important – accounting for nearly 20% of economic activity in Australia.

As is well known, Australian retailers have had it tough for nearly four years now. Nominal retail sales growth has averaged 2% to 3% since 2010, which is less than half the 6% annual pace seen last decade.

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