Peak retail industry body the
ARA Executive Director
"What we need to see now is every effort made not to harm consumer confidence further with a clear long term plan from Government to support consumers through future tax cuts and short term support from agencies such as the RBA.
"The ARA urges the RBA to cut interest rates in July given the concerns raised following the Federal Budget. It is also obvious, after today's' retail trade results, that retailers are suffering after experiencing unseasonably warm weather in April and May.
"It's being felt across the industry, from those selling winter coats and boots, to kitchenware products, such as soup makers and crockpots, electric blankets and heaters. Even if we get a sharp cold spell, it is now getting almost too late to purchase winter products.
"Interest rates must be reduced in order to aid in the growth for retailers and especially the SME sector,"
CC AutoTriage13cn-140604-30TagarumaMar-4755443 30TagarumaMar
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