Spending picking up, slowly; September retail up 0.1%

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31 October 2024

 

Summary: Retail sales up 0.1% in September, less than expected; up 2.3% on 12-month basis; ANZ: cost-of-living relief, moderating inflation, tax cuts flowing through; ACGB yields rise; rate-cut expectations soften, Feb cut uncertain; ANZ: suggests elongated recovery in spending growth; Westpac: typically takes time for retail spending to increase post-tax cuts; largest influence on result from household goods sales. Growth figures of domestic retail sales spent most of the 2010s...

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