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Virus outbreak tests market conviction on RBA decision

Virus outbreak tests market conviction on RBA decision
afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.

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UPDATE 1-Australia shoppers pull back in December, outlook still strong

Annual retail turnover still up 9.4%
Australian banks card spending data point to pick up in January
Retail sales seen contributing to Dec qtr GDP growth- economists (Adds economist comment, A$ reax)
SYDNEY, Jan 22 (Reuters) - Australian retailers suffered their biggest sales drop in eight months in December, recoiling after consumers brought forward their Christmas shopping although timely card spending data by banks point to a rebound in the New Year.
The 4.2% month-on-month drop in sales was spread across five of the six retail categories, led by household goods, department stores and clothing, the Australian Bureau of Statistics (ABS) reported on Friday. ....

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What does the mid-year budget update mean for the economy?

What does the mid-year budget update mean for the economy?
Posted
ThuThursday 17
Treasurer Josh Frydenberg says positive economic developments have improved the budget bottom line.
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There s strong momentum in jobs growth as we head into the summer break.
The Federal Government s budget is in slightly better shape than it was two months ago.
And some economists think there s more room for optimism than forecasts suggest but don t mention the trade tensions with China.
What can we learn from today s update to the 2020-21 budget?
An unusual budget update
In a normal year, the Federal Government typically releases its annual budget in May and updates it in December. ....

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