Stimpac 2 working

[Jovial Monk]

'It's a big shock in retail sales,'' said JP Morgan economist Helen Kevans. ''It was a lot stronger than expected.''

Shoppers bought big-ticket items ahead of receiving government stimulus cheques, she said. Economists had expected a 0.5% increase.

''In anticipation of the cash handouts that were to be received in April and May, consumers went out and spent a lot on discretionary items,'' she said.

'The RBA has been stressing that they want to assess the impact of the stimulus on the economy and it looks from these numbers today that (it is) are working.''

http://business.theage.com.au/business/ ... -aumg.html

[Hebe]

Leftofcentresalterego on Thu May 07, 2009 5:47 am
Well I think that about settles it. Fiscal stimuli can be effective. If people had simply closed up their wallets, the retail sector would have shed far more jobs by now.

Leftofcentresalterego

[Jovial Monk]

And a fair bit of that money spent shopping will come back to the govt as tax and excise.

[Auzgurl]

Saw this on lateline Monk..the Liberal mouth intervewied was not happy by that result. Good work Swan and Rudd.

[skippy]

Did anybody see Turnbull on the 7.30 report last night? Kerry was saying how the retail figures were really good and it looked like the stimulus package had helped, well Mal wasn't happy.
At one point of the interview Turnbull referred to Kerry as a socialist, he also nearly swore, it was just bloody but Kerry got to him, Turnbull didn't look very happy, I really don't think he'll be the opp leader come next election.

[Auzgurl]

I dont think so either and good to see old Mals BP up..the Lib mouth I referred to was so upset he said you could not trust Swan with a TVSN account, they cannot give even the smallest concession..he didnt even acknowledge the positive result.

[Leftofcentresalterego]

Turnbull referred to Kerry as a socialist

Wasn't a young Kerry O'Brian Gough Whitlam's press secretary?

[Jovial Monk]

Hahahaha played the 7.30 Report and Lateline for last night. Much amusement