Australia'S Retail Sales Declined By &Nbsp In December 2010; Clothing And Footwear Went Against The Trend.
In December, the growth of retail sales in Australia was not as good as expected by economists, and consumer spending in department stores declined.
Clothes & Accessories
and
footwear
The cost is higher.
The Australian dollar was down.
Australian Bureau of Statistics announced in Sydney 7, retail sales in December including Christmas holidays rose 0.2%, lower than the 0.4% increase after 11 menstrual correction, also behind the Bloomberg visit 18 economists estimate the median 0.5%.
Since October 2009, and between November and seven last year, the ReserveBankofAustralia (RBA) President Stevens (GlennStevens) has not raised the benchmark interest rate in the past two decisions.
Although investment in energy and mining sectors has pushed unemployment to around 5%,
Australia
The largest chain corporation operator, Maier Holdings Limited (MyerHoldingsLtd.), is still repairing its profit forecast for 7 this year.
Cravens, an economist at Sydney in JPMorganChase&Co., Morgan, wrote in a research report that "higher market interest rates may be the main reason for consumers to tighten their purse strings", according to a study published by HelenKevans, a Sydney economist.
We believe that after the recent increase in interest rates of the Bank of Australia, market interest rates have risen to the extent that many families can tolerate, and have also weakened their sales performance.
The Aussie dollar has been derogatory after the announcement of economic data.
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