"The robust post-lockdown spending which fueled much of Australia’s economic growth in 2022 has officially come to an end, new data from the Australian Bureau of Statistics reveals.
According to the ABS, retail sales fell 0.2 per cent in the December quarter – the first drop since September 2021.
With another interest rate rise on Tuesday expected to put further pressure on household spending, there are signs the downward trend could continue.
The Australian
"The robust post-lockdown spending which fueled much of...
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