Aussies are hitting the shops again
Article by Mozo
Contrary to popular belief, not everyone down under has their wallet under lock and key.
Granted, a lot of people have been forced to tighten their belts as the cost of living has risen, but a new study published by Westpac has found that Aussies are heading to the shops in greater numbers.
The March retail sales report indicated that monthly sales were up by 0.9 per cent when compared to February 2012.
This was the strongest gain since April 2011 and was very much against the expectations of economists and retail industry experts.
Clearly, Aussies do not have quite as tight a grip on their bank accounts as many people thought.
The Westpac report suggested the main catalyst for this increased level of spending was significant price cuts offered by retailers up and down the country.
With concerns about the state of the global economy still lingering, it seems that Aussies have been sniffing out a lot more bargains in recent months.
Have a question about bank accounts? Ask the money gurus at Mozo Answers.