Spending levels rise more than expected in June

Thursday 02 August 2012

Article by Mozo

Retailers across Australia had a better month than many were expecting in June, as people started to use their debit cards more freely.

Although a lot of Aussies have had to make cutbacks in recent months to account for the rising cost of living, it appears that recent interest rate reductions have helped to encourage people to hit the shops.

The Australian Bureau of Statistics has revealed that retail sales were up by one per cent in June to a seasonally adjusted $21.585 billion.

This followed on from a 0.8 per cent rise in May and some financial experts have pointed to government handouts for schooling and carbon tax as a major factor behind the upturn.

It is perhaps unsurprising that shoppers have become more active, as figures released by the Treasury indicated that household wealth has grown sharply in recent years.

Between 2004 and 2010, the average Australian saw their earnings rise by 20 per cent.

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Spending levels rise more than expected in June

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