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 Hope returns for businesses as consumer spending lifts- Hope returns for businesses as consumer spending lifts
- June 20, 2012
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Hopes for an ongoing lift in spending across Australia have returned, following a 1.9 per cent increase in seasonally adjusted terms in May, according to the Commonwealth Bank Business Sales Indicator (BSI).
This is the third increase in sales in the past four months, with spending now up 5.9 per cent on a year ago – the biggest annual gain in over two years.
The BSI* is a key measure of economy-wide spending, tracking the value of credit and debit card transactions processed through Commonwealth Bank point-of-sale terminals, a sample of approximately 30 per cent of the Australian market. Despite the stronger seasonally adjusted performance, in trend terms the BSI increased for the 10th consecuti...
- View more at: http://www.1888pressrelease.com/hope-returns-for-businesses-as-consumer-spending-lifts-pr-404761.html
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