FED:Shoppers shun the malls

AAP General News (Australia)
12-02-2010
FED:Shoppers shun the malls

Figures out today suggest consumers have shunned shops and cafes during October ..

even before the hefty rise in mortgage rates the following month.

The Bureau of Statistics says retail spending dropped 1.1 per cent in October compared
to September .. the biggest monthly drop since July 2009.

Economists' forecasts had centred on a 0.4 per cent increase in October.

The biggest fall in the month was spending in restaurants and cafes .. tumbling 4.8
per cent .. closely followed by clothing and footwear retailing .. which slumped 4.6 per
cent.

AAP RTV cb/rl/tm

KEYWORD: ECONOMY (CANBERRA)

� 2010 AAP Information Services Pty Limited (AAP) or its Licensors.