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Economic uncertainty weighs on consumer spending

Staff Reporter 1 minute read

Falling interest rates, lower fuel prices and the $10 billion government handout have failed to boost consumer spending in the lead up to Christmas.

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Data released by the ABS yesterday showed retail turnover rose by just 0.1 per cent from October to November to $18.423 billion.

This translated to an annual increase in turnover to 1.9 per cent – the lowest rate of growth in more than 25 years.

Retail turnover has now recorded eight months of consecutively weak trend growth.


Economic uncertainty weighs on consumer spending
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