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Australia retail sales growth below forecasts amid high rates, sticky inflation

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Sep. 28, 2023 1:54 AM ETiShares MSCI Australia ETF (EWA), FXA, FLAUBy: Meghavi Singh, SA News Editor

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  • Australian retail spending grew by 0.2% M/M in August 2023, compared with market estimates of 0.3% and after a final 0.5% growth in the prior month, preliminary data showed. 

  • The small increase showed that consumers continued restraining their spending amid elevated interest rates and sticky inflation.

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