14 Oct 2010

Retail sales unchanged in August

7:47 pm on 14 October 2010

Retail spending has remained unchanged.

Official figures show seasonally-adjusted retail sales stood at $5.7 billion in August, the same as the previous month.

Excluding car and fuel sales, core sales fell .6%, with falls in department stores, hardware and appliances.

Coupled with a weak housing market, JB Were strategist, Bernard Doyle says, the Reserve Bank could keep interest rates unchanged for some time.