Retails sales take unpredicted dip in December, figures show

Professionals in Australian sales jobs should be aware shoppers spent less than expected in the run up to Christmas and the New Year.

Today’s (February 6th) figures from the Australian Bureau of Statistics show there was a 0.1 per cent decline in retail sales in December as they totalled less than £21 million.

According to a report published by the Sydney Morning Herald, one of the contributing reasons why retail sales missed analysts’ expectations was the fact Australians reduced their spending, rather than deciding to pay down debt.

Forecasters had believed the figure would move upwards of 0.2 per cent, following a 0.1 per cent rise enjoyed in November 2011.

Chief economist with the Bank of Melbourne Besa Deda explained: “The lethal mix of consumer caution, rise of online spending, worsening global economic conditions and weather woes led to a slump in retailing not witnessed since the 1980s”, the news provider quoted.

Meanwhile, ministers of Julia Gillard’s administration have spoken out in defence of the prime minister amid rising speculation ex-premier Kevin Rudd plans to challenge her in next year’s elections.

Posted by Steve Williams

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