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It seems Australians didn't spend as much money in the department stores and shops in May. Bureau statistics speakers show retail1 rose just by 0.3%. The discretionary spending on items like clothing and eating out declined in the month. economists2 however say strong hardware store sales indicated budget measures did make a difference. Car sales have soared to a record high in June. According to the federal chambers3 of automotive industries, new vehicle sales came in more than 125000 dollars. sports utility vehicles rose by nearly 50%. And Qantas has announced it will share it recent success with its staff. Each worker will now receive a bonus equivalent to 5% of their annual salary. Qantas chief executive Alan Joyce said the payout is a reward for the airline return to profitability. Transport workers union has describe one of the bonus as a cynical4 deploy5.Well, it seems investors6 are behaving cautiously heading this weekend. The all ords closed down around 1%. The ASX200 index finished in a similar way. It was ready across the board today that mining and energy stocks among the hardest hit. The ANZ bank finished 1% lower. It's been another tough day on the Chinese share market. Shanghai composite has been trading down between 3 and 4%. And the Australian dollar is now buying under 76 US cent.
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