Australian retail sales stagnate as elevated rates take toll
Australian retail sales stagnate as elevated rates take toll
30/8/2024 6:25

Australian retail sales growth stalled in July as elevated interest rates force households to hunker down on discretionary spending.

Sales were unchanged from the prior month, versus economists’ estimate of a 0.3% gain, data from the Australian Bureau of Statistics showed Friday. The result snapped a three-month stretch of expansion.

Source: Bloomberg

Related news

NEWSLETTER