SYDNEY  -Australian retail sales volumes fell again in the June quarter as cost of living pressures and rising borrowing costs ate into consumer spending power, hampering economic growth and weakening the case for further interest rate hikes. Data from the Australian Bureau of Statistics on Thursday showed real retail sales fell 0.5 percent in the second quarter to A$35.2 billion ($23.02 billion), matching analyst forecasts. That was the third straight quarter of declines, a losing streak that has only happened once before – in the run up to the global financial crisis in 2008.

https://business.inquirer.net/413786/australia-retail-sales-extend-losing-stretch-to-a-third-quarter

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