Australia retailers get Black Friday boost, but no bar posed to rate cut

Quick Summary:

SYDNEY :Australian retail sales had the biggest increase in 10 months in November as Black Friday discounting drew cost-conscious shoppers, but the rise missed forecasts suggesting the boost poses no impediment to rate cuts.

Expectations were for a rise of 1.0 per cent in November.

"This makes it extremely difficult to get a read on the underlying strength of consumption from these data, as the solid rise is likely to be offset by a contraction in sales in December".

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Article Details

Category: EconomyBusiness

Markets: SingaporeAustralia

Topics: Rise Australia Cent November Inflation Retail Rate December Sales Friday Black

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-09 @ 09:29:08 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 594 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 24989057

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 40 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 1 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

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News Language: English

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Publisher ID: #27

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