Aussies 'expected to spend less'

Wednesday 06 April 2011

Article by Mozo

A survey conducted by Dun and Bradstreet suggests that consumers are likely to reign in spending in the near future.

Spending is expected to decline in the coming months

The national business expectations survey found that sales forecasts are at their lowest level in nearly two years as Aussies are expected to try to hold back on using their debit cards, reports the AAP.

Christine Christian, chief executive of the firm conducting the study, commented: "As the stimulus package has been unwound and interest rates have started to rise households have pulled back on their spending."

She added that the upturn in demand for commodities from developing countries last year and the government stimulus package helped businesses in 2010.

Despite this, figures from the Australian Bureau of Statistics published last month showed that retail spending in the country rose by 0.5 per cent in February, which was 0.2 percentage points higher than economists had forecast.

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