Retail Flat, “Consumers Holding On To Purse Strings”

X

June retail figures were flat, according to ABS.Australian retail remains flat, as industry group call on Reserve to lower rates.  

Retail sales growth was unchanged in June 2013 with zero growth, ABS Retail Trade figures, released today show. 

This will disappoint retailers after sales rose 0.2 per cent in May. Year-on-year retail sales growth sit at 1.06 percent.
During June, cafes, restaurants rose services 0.9%, Household goods retailing were up 0.3%. Meanwhile, Department stores sales were flat, while ‘Other retailing’ (-1.1%), Clothing and personal accessory sales (-0.2%), both fell. 
The figures for June echos the declining sales trend recorded in April and March, last. 
ARA Executive Director Russell Zimmerman said the stagnant sales figures are a sign that the retail sector is still facing significant challenges.
“Retailer will now be looking to the Reserve Bank of Australia (RBA) to provide some much needed breathing room and reduce interest rates when it meets tomorrow. The RBA needs to cut official rates to 2.5 percent to get variable mortgage rates to a level of 6 percent in order to address a compromised economic situation.”

“Overall, the unchanged sales figures in June illustrates that consumers are still holding on to their purse strings and discretionary spending remains tight.”

FLOODLIGHT 2024 Banner 728x90px Retail Flat, Consumers Holding On To Purse Strings
Px7 S3 728x90 1 Retail Flat, Consumers Holding On To Purse Strings
Hisense KV BannerAd 728 90 Retail Flat, Consumers Holding On To Purse Strings
728x90 Retail Flat, Consumers Holding On To Purse Strings
ChannelNews AZ100 728x90 Retail Flat, Consumers Holding On To Purse Strings
4Square Media Banner Ads Update at 5 July JSAU05JUL1 MR 728x90 1 Retail Flat, Consumers Holding On To Purse Strings
ELX DIG Crosscat Promo 728x90 Mar25 Retail Flat, Consumers Holding On To Purse Strings
Flick of a switch 728x90 1 Retail Flat, Consumers Holding On To Purse Strings
GOTHAM 728px x 90px Retail Flat, Consumers Holding On To Purse Strings
MOTO 36331576 Q3 Ad Banners 728x90 2 Retail Flat, Consumers Holding On To Purse Strings
Uniden Channelnews SoloX July 2024 728x90 1 Retail Flat, Consumers Holding On To Purse Strings
FA 979 HN MDF SG14 14gen 728x90 1 Retail Flat, Consumers Holding On To Purse Strings
728 x 90 Retail Flat, Consumers Holding On To Purse Strings
Marshall 728x90 1 Retail Flat, Consumers Holding On To Purse Strings
728x90 Retail Flat, Consumers Holding On To Purse Strings
HAIER Series 600 FLW HPD Pairs 728x90 1 Retail Flat, Consumers Holding On To Purse Strings
AU X8 Banner 728x90 Retail Flat, Consumers Holding On To Purse Strings
4Square Media Banner Ads Update at 5 July JSAU05JUL1 Buddy 728x90 1 Retail Flat, Consumers Holding On To Purse Strings
Westan 728x90px Retail Flat, Consumers Holding On To Purse Strings
250527 SAV Channel news June25 Leaderboard 728x90 1 Retail Flat, Consumers Holding On To Purse Strings
BEL2535 BPB024 4SQ Banners 728x90 Retail Flat, Consumers Holding On To Purse Strings
JBL TourPro3 728x90 Retail Flat, Consumers Holding On To Purse Strings
appliance retailer leaderboard may 728x90 Hitachi updated Retail Flat, Consumers Holding On To Purse Strings
BlueAnt 4SQM PumpAirUltra 728x90px Retail Flat, Consumers Holding On To Purse Strings
Skullcandy 728x90 1 Retail Flat, Consumers Holding On To Purse Strings


YOU MAY ALSO LIKE