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November retail sales put pressure on February rate rise

by Staff Reporter6 minute read
The Adviser

Retail sales recorded strong growth in November 2007, ABS figures released yesterday revealed.

Retail turnover hit $20.067 billion (seasonally adjusted) in November – an increase of 0.8 per cent from October and 0.3 per cent above market expectations.

Continued growth in comsumer spending increases the likelihood of a rate rise this February.

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