Consumer spending down, stimulus needed

By Jessica Stanic · 2 April 2009 · Locked

Consumer spending plummets: Is a stimulus package overdue?

Retail sales have taken a drastic hit, but it's not just the numbers that are concerning - the impact on everyday Australians is just as alarming. Will a cash bonus be the lifeline the economy needs?

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Summary

Signalling that the stimulus package cash bonus is needed now more than ever, retail sales have taken a dive, falling two percent in February across all segments. Consumers are keeping their money close to them, with department store figures down by almost 10 percent, while food retailing has eased 0.4 percent, and household goods spending […]