Business
Just as the omicron variant was knocking on the door, Australia’s retail turnover was on the cusp of a boom with a rise of 7.3 per cent in November, according to Australian Bureau of Statistics data.
Business
The sharp drop in the unemployment rate has given Australians an injection of renewed optimism, overcoming the cloud of uncertainty generated by Victoria’s most recent COVID-19 lockdown.
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Retailers could be in for a buoyant Christmas, with confidence among Australians going from strength to strength.
The Reserve Bank of Australia is widely expected to cut the cash rate at its monthly board meeting, and while the reduction is expected to be modest it could propel consumer confidence even higher.
Australians are growing in confidence as the economy starts to recover from the coronavirus pandemic fallout, a signal household spending may pick up as long as employment grows.
Australians appear to have taken confirmation of the country’s first recession in nearly 30 years in their stride.
