Spend­ing still weak

Townsville Bulletin - - NEWS -

RE­TAIL

THE May in­ter­est rate cut and fed­eral Bud­get mea­sures to loosen small busi­ness purse strings failed to pro­vide a sig­nif­i­cant boost to re­tail spend­ing in the month. Aus­tralian re­tail spend­ing rose 0.3 per cent in May, of­fi­cial fig­ures show, short of econ­o­mists’ ex­pec­ta­tions of a 0.5 per cent rise. It was a small im­prove­ment on April’s 0.1 per cent slide, which was the first fall since May last year, ac­cord­ing to the Aus­tralian Bu­reau of Sta­tis­tics.

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