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Weekly Overview August 14
Thursday August 14th 2014
Retail sales data out this morning tell us that spending is growing at an above average pace. But areas of greatest strength are where prices have been falling. Consumers are seeking out bargains in an environment of low wages growth not yet being offset by rising employment and the fastest population growth (1.5%) in a decade.
We also take a quick look at dairying and combat some of the more sensationalist talk recently about the sector facing grim times with analysis showing this season’s over 30% fall in likely payout is consistent with a six year pattern of such declines.