An improvement in expectations of Australian retailers has provided a boost to the outlook for the domestic economy.
A report released by Australian Retailers Association (ARA) yesterday showed that retailers planned to lay off less staff in the June quarter compared to the March quarter.
Just 8 per cent of retailers said they expected to reduce staff levels while 11 per cent expected to increase staffing levels.
"Usually, employment costs are the easiest overhead for managers under pressure to cut, but SME retailers are showing responsible understanding of the importance holding onto staff to stimulate consumer spending and economic recovery,” said ARA executive director Richard Evans.
“If unemployment levels remain under 6 percent, the retail sector can expect to see improved growth by the September quarter,” he added.
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