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 Weakness spreads across business sales as conditions remain subdued- Weakness spreads across business sales as conditions remain subdued
- August 19, 2011
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Business sales deteriorated further in July as the lacklustre performance in retail spending spread across the Australian economy, 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% of the Australian market. The BSI fell by 0.3% in July, following a 0.5% decline in June.
According to Matt Comyn, Executive General Manager, Local Business Banking, Commonwealth Bank, the latest figures further highlighted how low consumer confidence was taking its toll on the Australian economy....
- View more at: http://www.1888pressrelease.com/weakness-spreads-across-business-sales-as-conditions-remain-pr-328142.html
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