Sales turnover across most categories dips amid cost-of-living pressures ahead of RBA decision on cash rate next week
Follow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcast
Australian shoppers trimmed their spending in June amid a cost-of-living squeeze, adding to the case for the Reserve Bank to extend its interest rate pause for another month.
Retail turnover fell 0.8% last month, erasing a monthly increase of that amount in May, the Australian Bureau of Statistics said on Friday. Economists had expected spending to be unchanged for the month.
About Author
More Stories
EU should spare carmakers from ‘punitive’ emissions fines, says Scholz
Record number of Chinese tourists expected to visit Australia this summer as market passes pre-pandemic peak
Musk’s conflicts of interest as Trump adviser could benefit him, experts warn