Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Retail figures weak, again

Staff Reporter 1 minute read

By: Staff Reporter

Weak retail figures released yesterday have highlighted caution among consumers as well as a fragile domestic economy.

Retail sales rose just 0.2 per cent in June, the ABS revealed yesterday, following an equally weak 0.2 per cent rise in May.

Australian Retailers Association (ARA) executive director Russell Zimmerman said the figures painted a bleak picture.

“Retail sales across all states and categories have increased only 1.9 per cent from June 2009 to June 2010. This is not real growth, it’s well below healthy levels for the sector and it’s a very real signal for the RBA to hold interest rates until retailers begin to post some significant and consistent growth,” he said.

A closer look at retail figures reveals negative growth occurred for several sectors including department stores (-1.6 per cent), household goods (-1.0 per cent) and clothing, footwear and personal accessories (-0.8 per cent).

Retail figures weak, again
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
uptick graph Non-majors and non-banks continue to dominate: Broker Pulse

A greater proportion of brokers are sending their clients to non-...

construction equipment ta Demand for excavators up 191% YOY: CBA

The major bank’s data has revealed a jump in asset finance grow...

mortgage money house Hot Property: The biggest property headlines from the week 7-11 June

The weekly round-up of the biggest news stories from across Momen...