3.43 PM Wednesday, 29 November 2023
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 05:24 06:42 12:10 15:09 17:32 18:50
29 November 2023

Australia's retail sales fall 1.4% in February

By Staff Writer

Australian retail sales suffered their biggest fall in a year in February as higher interest rates ate into consumers' spending power, a surprisingly weak result that cast doubts on chances of an interest rate hike next week.

Retail sales fell 1.4 per cent from January on a seasonally adjusted basis, versus forecasts for a 0.2 per cent rise.