Consumers ramp up spending

Retail sales rose a surprisingly strong 1.2 per cent in January, adding to signs that local consumers are opening their wallets again, while trade surplus figures also beat expectations.
The retail result came after 0.5 per cent growth in December and was much stronger than economists’ expectations of 0.4 per cent lift in the month.
Total retail spending was $22.925 billion in January, up from $22.655 billion in December, the Australian Bureau of Statistics said on Thursday.  Sydney Morning Herald – Read more…