Australian retail sales (Mar10) – stalling post stimulus
Posted on 14 May 2010
Australian retail sales for March 2010 also confirm a slowing thirst for spending (see the original release from the ABS here):
With the assistance of last year’s taxpayer funded handouts a hazy hangover memory, and the recent cold-light-of-day interest rate rises a near term reality, it’s to be expected that retail sales would be tailing off. Goodness knows how the hell we are going to get back to the long term average of 2.5% per annum under our own steam. Odds favour another a dip below the line – something akin to 1990 perhaps?
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