Australian consumers ended 2002 on a strong note with retail sales up 1% on the market forecasts in ...
Australian consumers ended 2002 on a strong note with retail sales up 1% on the market forecasts in November. Sales rose by 1.7% in November from the previous month, against a forecast of 0.7%. Hugh Young, managing director of Aberdeen Asset Management Asia, says the consumer was supported by a robust labour market, historically low interest rates and positive real wages growth. However, he adds, there are signs the recent strong momentum of the labour market is beginning to ease. One such sign, he says, is that the job vacancies series produced by the Australian Bureau of Statistic...
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