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1.Market Observations

21 Feb 2012 – Signs of pick-up in consumer spending lift retailer hopes

(21 Feb 2012, The Age, BusinessDay, p1, Clancy Yeates)

Retailers hope nascent spending recovery will blossom

‘SPENDING rose in most parts of the economy last month, according to figures that deliver a ray of hope to the nation’s struggling retailers.’

‘Commonwealth Bank yesterday said turnover at its network of credit and debit-card terminals rose by 0.6 per cent increase in January, continuing the nascent recovery in consumer spending.’

‘Despite fears of retail job cuts after Billabong announced plans to shed 400 staff last week, the figures from the country’s biggest bank show spending is growing in much of the economy.’

‘Clothing stores, some of which have been especially hard hit in recent months, posted the strongest monthly growth, of 2.3 per cent, the figures showed.’

Read more at TheAge.com.au

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