Australian retailers had it tough in October as skittish consumers chose to hoar...
SYDNEY - Australian retailers had it tough in October as skittish consumers chose to hoard any windfall from lower interest rates and tax rebates, likely heralding another quarter of disappointment for the economy.
Extending a spate of soft reports, retail sales were flat in October at A$27.6 billion when analysts had looked for a 0.3% gain. Clothing, home wares and department stores all saw declines in the month. Neither were government giveaways providing much impetus with billions in tax rebates being saved rather than spent.
Investors are wagering policy makers will have to do a whole lot more to revive spending and futures are fully priced for a rate cut to 0.5% by April , with a real chance of a move to 0.25% by late 2020.Weakness in household consumption was the main reason gross domestic production managed only a modest 0.4% gain in the third quarter, and this quarter was looking no better.
“The growth of online retail and, in particular, heavy discounting coming into the Christmas season may be behind the weakening effect, which has seen a particular downward trend in the last 10-12 years,” she said. Yet even they hit a bump in October as a 5% drop in exports shrank the country’s trade surplus by a third to A$4.5 billion.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
China wants new energy vehicle sales in 2025 to be 25% of all car salesChina hopes new energy vehicle (NEV) sales can reach around a quarter of all car...
Leer más »
Education levels stagnating despite higher spending: OECD surveyEducation performance has largely stagnated in many OECD countries over the last...
Leer más »
Zendaya is GQ Australia's 'Woman of the Year' at age 23: 'She's only just getting started'The list of Zendaya's accolades in 2019 goes on and are nothing short of award worthy, according to GQ Australia, which named her 'Woman of the Year.'
Leer más »
Why job growth could be 'significantly weaker' than it has appearedWhen Bureau of Labor Statistics researchers start counting the numbers for the second quarter, they are likely to take the jobs count down.
Leer más »
Diane von Furstenberg Teams Up With Onia for Swim CollectionThe tops and bottoms retail for $95 to $110 each, while the one-pieces retail for $195 to $225.
Leer más »
We Need to Talk About the College Admissions Situation on 'Riverdale'On tonight's 'Riverdale,' the core four started to get their college acceptance letters, and it was absolutely ridiculous.
Leer más »