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By Ambar Warrick
Investing.com-- Australian retail sales tumbled in December, data showed on Tuesday, as spending was strained by rising living costs and as a bulk of holiday shopping appeared to have already occurred in the prior month.
Retail sales slumped 3.9% in December from the prior month, data from the Australian Bureau of Statistics (ABS) showed. The reading broke 11 consecutive months of rises, and was far worse than expectations for a decline of 0.3%.
Increased inflation appeared t...
>>> Read more: Australia retail sales shrink more than expected in December
Investing.com-- Australian retail sales tumbled in December, data showed on Tuesday, as spending was strained by rising living costs and as a bulk of holiday shopping appeared to have already occurred in the prior month.
Retail sales slumped 3.9% in December from the prior month, data from the Australian Bureau of Statistics (ABS) showed. The reading broke 11 consecutive months of rises, and was far worse than expectations for a decline of 0.3%.
Increased inflation appeared t...
>>> Read more: Australia retail sales shrink more than expected in December
