Tag: Retail Trade

The Reserve Bank has again left the official cash rate on hold at 3.5 percent, citing on trend inflation and growth as well as a rise in the number of businesses applying for credit.

After predictions of dismal Christmas and New Year sales were realised by smaller retailers across the country, many say they’re expecting 2012 to be another flat year for trade.

Australian retailers saw a small uptick in sales during December, with a 0.2 percent increase in retail trade recorded by the Australian Bureau of Statistics for the month.

The Australian economy grew by 1.2 percent in the June quarter, with growth through the year to June at 3.3 percent in figures released today by the ABS, placing pressure on the RBA to increase interest rates before the end of the year.

Retail trade continued to improve in July, with ABS Retail Trade figures up 0.7 percent in July, seasonally adjusted in addition to Australia’s Current Account Deficit shrinking on the back of an increase in exports.