Aussie Retail Sales on the Rise

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.


Short URL : https://goo.gl/nYkod3
  1. https://goo.gl/2W4tDz
  • https://goo.gl/HAPNGy
  • https://goo.gl/TRHB2K
  • https://goo.gl/kepi5y
  • https://goo.gl/nVoEfD

You can also read ...

Switzerland has the smallest ratio with 7.2% of GDP.
The shadow economy in Jordan accounted for 17.38% of the GDP...
The Bank of Italy revised its growth estimates down to 1.3% for 2018, and to 1% for 2019.
Italy's already weak growth forecasts were revised downwards...
Saudi Arabia Facing Uphill Battles
Saudi Crown Prince Mohammed bin Salman’s Vision 2030 scheme...
The popular Tesla Model S is due to sell by the end of this month in China, at which point the price will go up about $20,900.
More than a week has passed since the US and China fired the...
Airbus, AirAsia Discussing $23 Billion Deal
The Malaysian airline, already the second-biggest customer for...
German Cabinet Warned of Economic Risks
The chief of Germany’s central bank, Jens Weidmann, warned the...
Pakistan Raises Key Interest Rate
Pakistan’s central bank on Saturday raised interest rates by...
The bankruptcy of investment bank Lehman Brothers on September...

Add new comment

Read our comment policy before posting your viewpoints