As regular readers here will what I like very much to do is monitor the economy.
Here is the Reserve Bank Economic snapshot of the Australian economy for June 2017
Now compare this with the one released for June 2016.
From a retail perspective, the inflation rate is an immediate concern as it is hard to imagine how prices charged can be increased, but clearly they need to be although for many the interest rates fall will help, as will the stronger Australian dollar. The number of new customers is up, and the unemployment rate is down so we now are employing more people then ever before. Unfortunately people weekly earnings are almost the same, Australian have not had a pay rise in many years. Retail is steady, but clearly we need our mining industry to get back up.