2023-09-28 01:54:10 ET
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Australian retail spending grew by 0.2% mom in August 2023, less than expected in August compared with market estimates of 0.3% and after a final 0.5% growth in the prior month, preliminary data showed.
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The rise highlighted that consumers continued restraining their spending as interest rates remained elevated and sticky inflation.
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ETFs: ( NYSEARCA: EWA ), ( NYSEARCA: FXA ), ( NYSEARCA: FLAU ).
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Currency: ( USD:AUD )
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More on Australia economy:
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Australia's monthly CPI inflation rises to 5.2%, meets estimates
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Australia's manufacturing PMI falls to 48.2, lowest in four months
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Reserve Bank of Australia maintains rate at 4.1%, PMI ticks lower
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Australia's unemployment rate remains at 3.7% in August, as employment grows by 65K
For further details see:
Australia retail sales growth below forecasts amid high rates, sticky inflation