The TD Securities (TDS) Global Strategy Team is optimistic, expecting Australian retail sales to rise 0.5% in December. The data will be released during the Asian session on Tuesday.
Notable Statements:
“Following November’s impressive rebound, we expect retail sales to continue its outperformance. We expect sales to rise 0.5%m/m in December (Nov: +1.4%), contrary to the 0.3% decline consensus. It is possible We may expect consumers to feel the urge to spend and splurge on cash and credit card after spending the last three Christmases in a row under lock and key, however we don’t expect consumers to continue this spree of spending as rising interest rates and inflation will soon depress real household income.More importantly, Q4 CPI predicts another 25 basis point rise from the RBA next week, though stronger retail sales data could give the Bank more room to raise the final rate”.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
