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by ForexNewsNow Team on July 4, 2011

Australian retail sales figures much lower than expected

In a report published by the Australian Bureau of Statistics on July 3rd, the Retail Sales indicator – a monthly measurement of all goods sold by retailers of different types and sizes in Australia – came out much lower than expected by analysts.

With a 0.6% decrease instead of the 0.3% rise that was forecasted, this report should be a cause for concern regarding the strength of the Australian economy.

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