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Why Australians aren’t spending

The latest ABS data confirmed what most retailers already knew – that right now Aussie shoppers are keeping their wallets firmly shut. September retail sales figures edged up just 0.3 per cent compared to the previous month, with some categories, like department stores, actually falling behind on sales. Many merchants believe that the latest Reserve Bank interest rate rise has only added insult to injury and may result in a Scrooge-like customer reaction at Christmas. As quoted in the Australi

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