2009 good for Australian consumers
Year 2009 was good from the Australian consumers’ perspective. As per the conclusion of an analytical study done by CommSec, the Australian consumers benefited a lot because of the government handouts combined with lower interest rate regime.
Over and above was the fact that prices of most of the products went down since the retailers were forced to cut their margins, in order to increase sales.
The study reveals that the disposable income in Australia went up by 7.8 per cent in 2009. This is higher than the average increase rate. But even with this, the consumers spent less and saved more.
Sectors which managed to attract consumers were- recreation and culture which includes items like boats, caravans and sporting equipment. The sector registered an increase of 29.1 per cent, the highest.
Water and sewage charges, electricity, gas and other fuels, medicines and medical aids, audio visual equipment et al are the other sectors which went up. All of these grew by more than 10 per cent.
The sectors which shrank were- newspapers and books, which dropped since consumers wanted to avoid bad news.
Motoring fuel, jewellery, watches and clocks, games, toys, child care services also showed a negative growth.
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