The latest numbers from the Australian Bureau of Statistics would have
you believe that we are spending more money at the shops.
Retail sales in April rose 1.1%. That is more than the 0.4% the market was expecting. This data release is quite volatile.
So the question is: can this rate of spending be maintained?
It’s worth noting that interesting such figures come after the GDP report, which shows Australians are saving more and more because they are expecting tougher economic times, amid vocal calls from the Reserve Bank to be ready for an imminent interest rate rise.