Budget blamed for retail slump

Original article by Blair Speedy
The Australian – Page: 27 : 4-Jul-14

Australian retailers have blamed poor sales on the Federal Government’s May 2014 Budget. In May, retail sales dropped by a seasonally adjusted 0.5 per cent, the largest fall in 13 months. The greatest decline was in discretionary spending, with sales in department stores falling by 2.6 per cent. Australian National Retailers Association CEO Margy Osmond said that uncertainty about many Budget measures was weakening consumer confidence

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AUSTRALIAN NATIONAL RETAILERS ASSOCIATION LIMITED, AUSTRALIAN RETAILERS ASSOCIATION, AUSTRALIAN BUREAU OF STATISTICS, PACIFIC BRANDS LIMITED – ASX PBG, FLIGHT CENTRE TRAVEL GROUP LIMITED – ASX FLT, METCASH LIMITED – ASX MTS, THE REJECT SHOP LIMITED – ASX TRS, DEUTSCHE BANK AG, RESERVE BANK OF AUSTRALIA

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