As expected by many retailers, the Reserve Bank has decided to leave the cash rate unchanged at 2.5 per cent.
In the lead up to the federal election this Saturday, signs of nervousness are more obvious than ever as consumers continue to spend cautiously, which is reflective of the latest Australian Bureau of Statistics Retail Trade Figures.
Australians have already spent $14.1 billion on online shopping for the full year to July 2013, National Australia Bank;s latest Online Retail Index shows.
A nationwide survey conducted by American Express found that almost three in four businesses have taken actions to future-proof their operations in face of sustained economic uncertainty.
While spending has lifted in July by 0.2 per cent in trend terms, it was the slowest pace on record since September 2012, the Commonwealth Bank Business Sales Indicator shows.
New research from Woolworths has revealed Sunday is fast becoming the new Saturday and consumers are no longer making weekly but daily trips to the supermarket.
The Reserve Banks' latest decision to reduce the cash rate by another 0.25 per cent earlier this month has helped lift consumer sentiment for August.
Officeworks has been appointed as a supplier of office and education supplies to Queensland government.
Roy Morgan Research's business confidence survey in July indicated there are tentative signs the Australian economy is recovering.
Shopping anywhere anytime is now the new normal, according to research by New Galaxy Research.