The Bear Room, page-1762

Aussies’ retail spending ‘grinds to a halt’

Retail trade figures were slightly up in April, but spending was still flat for the year, as Australians continued to keep an eye on what they spend.

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7 hours ago

“Consumers have reigned in their spending in response to a host of cost-of-living pressures, causing retail sales growth to grind to a halt over much of the past year,” Mr Langcake said.

“There is some help on the way for household finances from the May budget, with tax cuts and subsidy payments set to boost cashflow from July.

“But this is unlikely to be enough to completely shake consumers out of their current funk. “We expect momentum in retails sales will remain subdued over 2024.”

news.com.au/finance/business/retail/retail-trade-figures-for-april-show-a-slight-increase-but-still-flat/news-story/bfee969f8eb91821bedec44358937220