| Home | August 2012News | Spending slides as consumers return to conservative ways, according to the latest Commonwealth Bank Business Sales Indicator (BSI) |
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 Spending slides as consumers return to conservative ways, according to the latest Commonwealth Bank Business Sales Indicator (BSI)- Spending slides as consumers return to conservative ways, according to the latest Commonwealth Bank Business Sales Indicator (BSI)
- August 22, 2012
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In the absence of further stimulus measures, economy-wide spending slumped in July, reversing gains previously witnessed in May and June, according to the latest Commonwealth Bank Business Sales Indicator (BSI).
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. The BSI fell by 5.4 per cent in seasonally adjusted terms in July, following a 3.1 per cent gain in June and 1.7 per cent in May.
According to Gary McGrath, Acting Executive General Manager for Local Business Banking, Commonwealth Bank, the latest figures were a ...
- View more at: http://www.1888pressrelease.com/spending-slides-as-consumers-return-to-conservative-ways-ac-pr-418399.html
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