Daily Murmur 02/12/10

by Gary Glover

Australian retail sales fell 1.1% in October from the Australian Bureau of Statistics said Thursday.    
Economists surveyed ahead of the announcement on average had expected a 0.4% rise in sales for October.     The bureau said the trend estimate for retail sales were flat in October from September.  The trend estimate further smoothes the seasonally adjusted numbers.
It’s becoming apparent that while U.S. economy is showing signs of improvement it’s the opposite for Australia.  The Australian economy is showing strong signs of cooling.
The only positive here is that rates will not be going up, which is good for the home owner.


Gary Glover is an Authorised Representative (Rep No. 259215) of Novus Capital Limited ("Novus"). Novus is a holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this page or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?