World Economy
0

Aussie Retail Sales on the Rise

Australians are spending more this winter with retail sales rising for a third straight month, 9News reported. Blaming booming house prices for an increase in consumer confidence, economists are pointing to homeowners who are leading the charge. “While we are feeling a lot of doom and gloom in the economy, homeowners are feeling more confident and they are certainly putting more money into their home to make it more comfortable and more valuable as well,” consumer advocate Christopher Zinn told 9News. Across Australia, retail spending grew by 0.3% in June to $26.2 billion, with New South Wales seeing a 0.5% rise. The biggest surge was in household goods (0.9%), followed by clothing and footwear. Heavy discounting is also likely to be behind the trend, with shoppers taking advantage of widespread sales.

 

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com