Retail trade jumped by 1.2% in January, which bettered market expectations that were centred on a rise of 0.4% (CBA (f)0.5%). The news is good for the economy and policy makers. January’s lift in sales continues a solid run of retail tradegrowth that started in August last year. Consumers are responding to low interest rates and rising asset prices. Today’sdata provides further evidence that policy stimulus is working and that the growth transition is underway.
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Commonwealth Bank