Retail spending rises again
Retail spending rose in January, the 4th consecutive monthly rise. The 0.2% rise (seasonally-adjusted) in January follows a 3.8% increase in December is response to the Federal Government’s first stimulus package which included pre-Christmas cash handouts to families.
It’s yet another example where the economic outcome has been considerably better than forecasts by economists (they predicted a 0.5% decline in retail spending in January).
