Lower mortgage payments, cheaper fuel support retail sales boost
08 Jan 2009 2:31 AM
Economists say lower interest rates and falling petrol prices have helped support a stronger-than-expected lift in Australian retail sales.
Retail sales rose by 0.4 per cent .. seasonally adjusted .. in November .. well above market expectations of an 0.3 per cent decline.
Consumers were left with more cash in their pockets in November as lower mortgage repayments and cheaper fuel increased their spending capacity.
Petrol prices averaged $1.26 a litre in November .. compared with $1.60 a litre in July.
