Retail spending rebounds

Shopping bagsRetail trade figures out on Thursday are expected to show a bounce in spending after disappointing sales over Christmas.

Retail sales are forecast to have risen 0.4 per cent in January, better than December’s disappointing rise of 0.2 per cent, which was weighed down by weak consumer confidence.

Westpac economists said January’s outcome will be helped by lower petrol prices, which are freeing up household budgets and a lower Australian dollar improving the price competitiveness of local retailers against overseas online retailers.

AAP

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