A weak result for the month of June, with retail sales failing to show growth for the month of the quarter on a seasonally adjusted basis.
Although there are whispers that July and August may show a better result, weak retail sales in June missed expectations and should temper optimism about the GDP result for June.
Aussie dollar sank to a new low of 88.49 cents earlier, the weakening of the currency continuing to be great news.
Shares were flat.
Stand by for an interest rate cut.
Source: ABS
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