Sales Soar After Cash Injection

Official figures have revealed the Government’s first economic stimulus package had a bigger than expected effect on retail sales in December.

Sales for the month were 3.8 per cent higher than in November, the biggest percentage rise since after the introduction of the GST in August 2000.

The figures were released after Opposition Leader Malcolm Turnbull said the Coalition would vote against the Government’s latest $42 billion stimulus package.

NabCapital senior economist David de Garis says it shows some of the initial handouts have been spent as the Government wanted.

“People were out there spending, perhaps not spending all of it, but spending nevertheless,” he said.

“It certainly gives the Government some hope that some of the further fiscal stimulus that they announced yesterday will find its mark in helping to cushion the downturn in the economy through the second quarter of this year.”

4 February 09

• Rally Makes Waves in Macquarie St
• Rail Services Safe Says Page
• Near-Record SME Dissatisfaction with Government
• Mayor Slams Hospital Repair Estimate
• Ratepayers Take on Ballina Council
• Rudd Pledges Loyalty After Ballot Defeat
• Maccas Decision Hard to Swallow
• Page MP Declares Support for Rudd
• New Cross Border Commissioner Appointed
• Splendour Returns to Byron
• Mayor Says Help Still Available to Inghams
• Lismore Floods Leave $1m Damage Bill
• 560 jobs to go at Westpac
• Pacific Highway Open but More Rain to Come
• $2m Grafton Airport Upgrade Critical
• Gas Firm Proposes Underground Salt Solution
• Nationals Hold Clarence
• Clarence Swing to ALP Forecasted for the By-election
• Call for More Casino Police
• Clarence Candidates Quizzed on Power Privatisation
• Nationals Release Coal-Seam Gas Blueprint
• North Coast Housing Industry Takes a Hit
• North Coast Jobless Rate Falls
• North Coast Jobless Rate Falls
• Ex-mayor wins Nationals' Preselection for Clarence
• NORBEC Helps Local Businesses
• North Coast Gas Firm Hints at Future Fracking
• North Coast Gas Firm Hints at Future Fracking
• Ballina Horse Dies from Hendra
• Push to Return Splendour to Northern Rivers

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