Reported 2 days ago
Australian retail sales rose for the third consecutive month in October, increasing by 0.6% from September, driven by improved consumer confidence and tax cuts. Sales reached A$36.7 billion, a 3.4% rise from the previous year, with many retailers offering discounts before the Black Friday events. The boost in discretionary spending was fueled by a decrease in inflation and ongoing growth in household incomes, despite a cautious outlook for interest rate cuts from the Reserve Bank of Australia.
Source: YAHOO