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Aus. retail sales dip in June over dismal demand

08-04-2011 09:47 BJT

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Australian retail figures came in soft for June, as consumers expect a near-term hike in interest rates. Retail sales dipped 0.1 percent, while sales for the whole second quarter rose only modestly. However, the resource rich nation boasted another healthy trade surplus of 2 billion Aussie dollars in June as Chinese demand kept export prices high.

Retailers have been complaining of dismal demand as consumers choose to save more and spend less. Although consumers might expect a rate hike, investors are betting on the opposite scenario - that the central bank will soon reverse tightening policy and cut rates because of concern for the global economy.

Monique Arnold shops at Borsellino Brothers in Petersham, Sydney. Picture: Dan Himbrechts Source: The Australian


Editor:Li Wanran |Source: CNTV.CN

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