Australian retail turnover dropped first time in 2022
As per the Australian Bureau of Statistics, Australian retail turnover dropped 0.2% in October 2022. The drop in October 2022 was after a rise of 0.6% growth in August and September 2022.
The drop in retail turnover indicates that the increase in the cost of living pressure and the rise in the interest rate have started weighing on consumer spending.
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Australian retail turnover dropped first time in 2022
As per the Australian Bureau of Statistics, Australian retail turnover dropped 0.2% in October 2022. The drop in October 2022 was after a rise of 0.6% growth in August and September 2022.
The drop in retail turnover indicates that the increase in the cost of living pressure and the rise in the interest rate have started weighing on consumer spending.
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