Australia - Slight rise in food sales
21 Mar 2010
Australian retail sales rose in January, rebounding from the biggest decline in 10 months and adding to signs of an economic recovery that may prompt the central bank to boost borrowing costs today.
Consumer spending is stoking earnings at companies including Woolworths Ltd., Australia’s biggest retailer, and may strengthen the nation’s economy, one of the few to skirt last year’s recession. Reserve Bank Governor Glenn Stevens will boost the benchmark lending rate by a quarter point to 4 percent today, according to 14 of 19 analysts surveyed by Bloomberg
Source: foodbizdaily.com
Back to News Headlines