Global news makes Aussies wary of overspending

Mozo

Monday 02 July 2012

It is important that we keep up to date with the latest developments from around the world, but Australian retailers are not so glad that people are staying abreast of current affairs.

Global news makes Aussies wary of overspending

Although Australia's economy is growing at a much faster rate than many of its rivals, it seems that people down under are still very Wary of using their debit cards to buy anything other than essentials.

Head of the Australian National Retailers Association Margy Osmond told AFP that a lot of people are worried about the huge financial problems that are being reported in parts of Europe.

"The state of mind of a consumer at the moment is being driven by whatever they see on the news that night – Greece again," she was quoted as saying.

With the high cost of living and the threat of utility bills rising, it is perhaps unsurprising that Aussies are keeping their wallets and purses firmly shut after watching the latest news broadcast.

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