Australia Retail Sales Decline

Australian retail sales unexpectedly fell for a third month in December 2012. Period of decline in retail sales in the State Kangaroos last year became the longest in the last 13 years as the effects of the worsening employment prospects.

Worsening employment prospects to make an Australian lower level of consumption. Australian Bureau of Statistics said that in December 2012, Australian retail sales fell 0.2% to A $ 21.4 billion or U.S. $ 22.2 billion from the previous month. Sales of products such as pharmaceuticals and books down 2.8% and down 1.1% for purchases at restaurants and cafes.

Retail sales decline underscored the policy of the Central Bank of Australia (RBA), which hold the benchmark interest rate at 3% level to stimulate outside the mining industry and encourage the recruitment of new workers. RBA is also an opportunity to cut its key interest rate to stimulate the Australian economy.
David de line, senior economist at National Australia Bank Ltd., said