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Falling interest rates, lower fuel prices and the $10 billion government handout have failed to boost consumer spending in the lead up to Christmas.
Data released by the ABS yesterday showed retail turnover rose by just 0.1 per cent from October to November to $18.423 billion.
This translated to an annual increase in turnover to 1.9 per cent – the lowest rate of growth in more than 25 years.
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Retail turnover has now recorded eight months of consecutively weak trend growth.
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