Original article by Sue Mitchell
The Australian Financial Review – Page: 41 : 25-Jan-18
UBS forcasts that Australian retail sales will rise by 2.6 per cent overall in 2018, while growth in discretionary spending is expected to slow to just two per cent. Craig James of CommSec notes that consumers were upbeat leading into 2018, citing factors such as historically low interest rates, the strong growth in jobs in 2017 and the recent rise in the value of the Australian dollar. However, the ANZ/Roy Morgan Consumer Confidence index has eased 3.3 per cent to 119.9, although consumer confidence is still higher that its long-term average of 112.9.
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