Reported 2 days ago
Australian retail sales saw a 0.6% increase in October, marking the third consecutive month of growth as consumer confidence rises ahead of potential interest rate cuts. The data, reported by the Australian Bureau of Statistics, showed a 3.4% year-on-year rise in sales, fueled by online discounts and increased spending on discretionary items and electrical goods. With the Reserve Bank of Australia holding rates steady, the upcoming meeting may see no changes predicted until 2025, while shifts in retail data will transition to a broader household consumption report starting in mid-2025.
Source: YAHOO