May 05, 2011
Source: news.com.au
RETAIL trade and building approvals data released show an expected slowing down of the non-mining part of the Australian economy and should not change the outlook on interest rates.
Data released by the Australian Bureau of Statistics showed retail spending decreased 0.5 per cent in March, compared with a 0.5 per cent increase forecast by economists.
Other data showed Australian residential building approvals in March rose 9.1 per cent, almost double the market forecast of a 5.0 per cent rise.
Macquarie Group associate economist Ben Dinte said the recent month to month trend was driven by Queensland with the rest of the country staying largely flat.
To read the full story, follow this link: www.news.com.au/business/breaking-news/retail-building-making-way-for-resources/story-e6frfkur-1226050431064
