From 'The Australian', adding possible weight to your hypothesis:
"The country’s retail recession extended into April as trade stalled in the month under the weight of climbing interest rates and intense cost-of-living pressures.
ABS head of retail statistics Ben Dorber said the flat result was despite a jump in spending on winter clothes “in response to cooler and wetter-than-average weather across the country”.
Clothing, footwear and personal accessory retailing jumped 1.9 per cent, and spending in department stores was up 1.5 per cent – the only two categories to rise, according to the seasonally adjusted figure."
MYR Price at posting:
69.0¢ Sentiment: Hold Disclosure: Not Held
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