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AUSTRALIAN OCT RETAIL SALES EXPECTED TO BE STRONG.
SYDNEY, Dec 2 Asia Pulse - Australian retail sales were expected to have been strong in October as consumers showed no signs of slowing spending, economists said.
Retail sales figures for October, to be released by the Australian Bureau of Statistics tomorrow, should rise 0.5 per cent, seasonally adjusted, according economists' median forecast.
This compares to the 0.7 per cent rise, adjusted, in September.
"The consumption fundamentals remain positive - sustained low interest rates, a healthy labour market and a resilient housing sector," RBC senior economist Su-Lin Ong said.
Ms Ong expects a firm outcome for retail sales in October with a 0.5 per cent rise.
HSBC senior economist Anthony Thompson expects retail sales for the month to be more rosy than that, forecasting a 1.0 per cent rise.
"With consumer sentiment rebounding from the first ...
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