Reported about 23 hours ago
Australian retail sales fell 0.1% in December after a Black Friday surge, but promotions and discounts contributed to a 1.0% growth for the fourth quarter, totaling A$105.8 billion. This increase, fueled by household spending from tax cuts and government subsidies, is expected to add 0.2 percentage points to GDP despite challenges from high mortgage rates and cost-of-living pressures. Analysts anticipate potential interest rate cuts from the Reserve Bank of Australia amid easing inflation and global trade concerns.
Source: YAHOO