Fed: Shoppers still spending, ABS figures show

AAP General News (Australia)
04-02-2001
Fed: Shoppers still spending, ABS figures show

The government has received some welcome news with new figures showing that shoppers
are spending again at pre-GST levels.

The Australian Bureau of Statistics says retail trade rose 1.2 per cent to $13.11 billion
in February after allowing for seasonal factors.

That's the highest figure since June 2000's $13.17 billion - the last month before
the introduction of the GST - a good result given that February is the shortest month.

There were rises in department store sales, food retailing and other retailing but
clothing and soft goods fell.

Most economists expected a slight fall in retail spending, following rises in the previous
two months.

Retail trade has now risen 8.1 per cent over the past 12 months.

Today's data is not expected to alter the Reserve Bank of Australia's thinking greatly
when its board meets to discuss monetary policy tomorrow.

Economists still expect the RBA to announce a cut official interest rates by at least
a quarter of a percentage point on Wednesday.

AAP RTV jph/daw/maur/jn

KEYWORD: ECONOMY RETAIL (CANBERRA)

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