Consumers remain super-cautious on spending

From

Retail trade, International trade

  • Retail spending grew by just 0.3 per cent in September, below expectations centred on a rise of 0.4 per cent. Non-food retailing rose by 0.4 per cent – the slowest growth in four months.
  • In the September quarter, inflation-adjusted retail trade rose by 0.7 per cent (below forecasts for 1.1 per cent growth). The measure of retail prices rose by 0.7 per cent in the quarter. Prices fell in 4 of the 15 detailed sectors.
  • Aussies spent up big on sporting goods in the September quarter and flocked to cafes and restaurants. But spending was down across almost half the retail categories, with specialised food outlets like butchers and seafood stores worst affected together with hardware, footwear, newsagents and clothing stores.
  • Australia’s trade surplus narrowed from $2,446 million to $1,760 million in September. Economists had tipped a surplus near $1.9 billion. Exports fell by 1.5 per with imports up by 1.4 per cent.
  • New car sales in October were up just 0.1 per cent on a year ago with 80,925 passenger cars sold in the month. Sales of 4WD vehicles continue to soar up 22.9 per cent on a year ago.

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