Retail trade rose by a strong 0.7% in November, which bettered market expectations that were centred on a rise of 0.4%{CBA(f) 0.3%}. The news is good. The lift in sales over November cements the uptrend in retails sales observed sinceAugust. Consumers are responding to low interest rates and rising asset prices. It’s a positive for policy makers and theAustralian economy.
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Commonwealth Bank