Australia's footwear consumption in August fell by 1.5%

According to media related information reports, data released today by the Australian Bureau of Statistics shows that retail sales in Australia rose for the sixth consecutive month as consumers increased spending on meals and department stores. After the August seasonally adjusted monthly retail sales rose 0.3%, lower than the market had previously expected, economists had expected monthly rate rose 0.5%. The monthly rate rose 0.7% in July.

The data also show, restaurant expenses increased 1.5%, department store consumption growth of 0.6%, while consumer spending cap shoes aspects of clothing fell 1.5%.

The report shows that families are safely through the most radical interest rate hike cycle in the history of the Reserve Bank of Australia. The mining boom has led to a drop in unemployment and prompted the central bank to start raising interest rates.