Published: May 08, 2019
If they were sound, the Reserve Bank would be looking to raise the cash rate, not lowering it even further
The was some rather big economic news on Tuesday that delivered a very sharp poke to the ribs of the government’s economic narrative. It came in the form of a short, relatively undemonstrative line in the latest report on retail trade from the bureau of statistics. It stated that “in volume terms, the trend estimate for Australian turnover was relatively unchanged (0.0%) in the March quarter 2019”.
The actual result was a fall of 0.01%, which may seem rather unremarkable, but it marked just the eighth time since the ABS began compiling retail turnover in 1983 that the volume of had fallen.
Continue reading...from The Guardian http://bit.ly/2PVxG1c
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