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1.Market Observations

20 July 2012 (The Age) – Shoppers loosen purse strings

(20 July 2012, The Age, BusinessDay, p3,Clancy Yeates and Chris Zappone)

‘GROWTH in consumer spending hit a four-year high of 10.1 per cent in the year to June 30, according to figures from Commonwealth Bank.’

‘Spending at its debit and credit card terminals also shows a 2.5 per cent rise last month.’

‘Despite weak conditions prompting job cuts in department store Myer, the bank will report today that its business sales index shows retail stores experienced a 16 per cent increase in turnover the year to June.’

Read more at TheAge.com.au

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