Australian retail sales growing in a moderate pace in November. This suggests that consumers are still reluctant to shop in the middle of Australia's precarious economic situation. Demand from consumers are still reeling because of the growth of public revenue continues to fade.
Australian retail sales grew 0.4 percent on-month basis in November, while sales growth in October was revised up from 0.5 percent to 0.6 percent, according to the Australian Bureau of Statistics on Friday (08/01) morning.
Retail household goods rose 0.9 percent in November, while service restaurant jumped up to 1 percent, and retail food edged up 0.2 percent. While retail clothing such as clothing, footwear and accessories rose 0.8 percent, followed by other retail sales by 0.4 percent increase. There is also a 0.8 percent decline in sales at department stores.
Responding to this report, the Australian dollar was trading higher then 0.25 per cent against the US Dollar at 0.7028 figure this morning in Sydney. Previously, AUD / USD is at 0.7012 level at the close of New York trading session last night.
Australian society not Want Boros
The decline of activity in the retail sekstor tergoncangnya in Australia are a reflection of consumer confidence in Australia's economic transition of mining investment sector. Decline in economic activity after mining investment boom significantly reducing income growth and the impact on consumer shopping habits.
In addition, the weakening of the labor market in recent years diminish consumer confidence and triggered a cautious attitude towards waste. The impact, of course the weakening inflation. RBA is likely to cut interest rates back this year if consumer inflation (CPI) Australia continues to be low.
Australian retail sales grew 0.4 percent on-month basis in November, while sales growth in October was revised up from 0.5 percent to 0.6 percent, according to the Australian Bureau of Statistics on Friday (08/01) morning.
Retail household goods rose 0.9 percent in November, while service restaurant jumped up to 1 percent, and retail food edged up 0.2 percent. While retail clothing such as clothing, footwear and accessories rose 0.8 percent, followed by other retail sales by 0.4 percent increase. There is also a 0.8 percent decline in sales at department stores.
Responding to this report, the Australian dollar was trading higher then 0.25 per cent against the US Dollar at 0.7028 figure this morning in Sydney. Previously, AUD / USD is at 0.7012 level at the close of New York trading session last night.
Australian society not Want Boros
The decline of activity in the retail sekstor tergoncangnya in Australia are a reflection of consumer confidence in Australia's economic transition of mining investment sector. Decline in economic activity after mining investment boom significantly reducing income growth and the impact on consumer shopping habits.
In addition, the weakening of the labor market in recent years diminish consumer confidence and triggered a cautious attitude towards waste. The impact, of course the weakening inflation. RBA is likely to cut interest rates back this year if consumer inflation (CPI) Australia continues to be low.
No comments:
Post a Comment