Australian retail sales slump due to uncertainty

19:16, August 03, 2010      

Email | Print | Subscribe | Comments | Forum 

Australian National Retail Association chief executive Margy Osmond said on Tuesday spending figures for June were "extremely disappointing" because shoppers still felt uncertain.

"What we're seeing is while people feel confident about having a job, that's not translating into spending on discretionary items or big household items," she told reporters.

A federal election campaign also causes uncertainty, she noted.

The Australian Bureau of Statistics has reported a weaker than expected 0.2 percent rise in retail sales in June.

June is traditionally the big sales months of the year but Osmond said it had been diluted after six or eight months of aggressive discounting by the sector.

Osmond said there would not be a stop to discounting any time soon, with robust sales not expected to be seen until 2011.

"A very good reason for those interest rates to stay where they are," she said.

The Reserve Bank left the cash rate unchanged at 4.5 percent following its monthly board meeting on Tuesday.

The move was welcomed by the Australian Retailers Association, which said retailers were desperate for relief from rate increases.

Source: Xinhua

(Editor:燕勐)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Staff members watch a screen showing the blast-off of the Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module at Beijing Aerospace Control Center, Sept. 29, 2011. Commander-in-chief of China's manned space program Chang Wanquan announced Thursday night that the launch of Tiangong-1 space lab module was successful. (Xinhua/Wang Shen)
  • Chinese President Hu Jintao watches the launch of Tiangong-1 space lab module at Beijing Aerospace Control Center in Beijing, capital of China, Sept. 29, 2011. Other members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, including Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang and Zhou Yongkang, are also present. (Xinhua/Rao Aimin)
  • The graphics shows the launch procedures of the carrier rocket of Tiangong-1 space lab module, Long March-2FT1 on Sept. 29, 2011. (Xinhua/Lu Zhe)
  • Image taken from Beijing Aerospace Control Center shows a Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module blasting off from the launch pad at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 29, 2011. (Xinhua)
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
Hot Forum Discussion