Australian retail sales rose 0.6% in September as consumer spending recovered

According to the Australian Bureau of Statistics (ABS), retail sales rose 0.6% in September from the previous month to A$351 billion ($22.4 billion). This was due to consumers spending more money on groceries, clothing and restaurant meals. A sign that consumer spending in Australia has begun to recover. Even though inflation and interest rates have risen.

Australian retail sales rose by 17.9% year-on-year in September.

Analysts predict that the rise in retail sales could be one of the factors that leads the Reserve Bank of Australia (RBA) to raise interest rates further at tomorrow’s monetary policy meeting. If this happens as expected, it would be the seventh rate hike in recent months.

Leave a Reply

Change Language
%d bloggers like this: