Consumer confidence lifts, gives hope for a positive Christmas

 In Australia, NewZealand
It appears retail may finally be looking up with consumer spirits lifting in October, according to the latest Commonwealth Bank Business Sales Indicator (BSI).
For the 14th consecutive month economy-wide spending rose 0.4 per cent in October, following an identical rise in the previous month, after the September trend figures were revised to reflect new spending data. The October results also show that the pace of spending growth has stabilised over the last few months, after slowing between March and August.
Commonwealth Bank executive general manager of local business banking Adam Bennett said the findings are a sign that increasingly confident consumers could be ready to spend more freely in the lead-up to Christmas.
“With consumer confidence improving and property values rising strongly, the outlook for household spending is looking increasingly healthy,” he said. Retail Biz – Read more…

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