Australia’s retailers enjoyed another jump in sales in October, an outcome that augers well for momentum in consumer spending going into the all-important Christmas shopping period, Reuters reported. The 0.5% rise for October beat market forecasts for a 0.3% uptick and marked the best three month period for sales since mid-2014. That was welcome news after a run of disappointing figures this week suggested the economy had all but stalled in the third quarter. The robust numbers will help allay concerns about the risk of a more marked slowdown, or even recession, following weak numbers on business investment and construction.
© Financial Tribune Daily and Contributors 2014-2025