New record for Christmas spending

Australians spent a record $36.5 billion in the six weeks leading up to Christmas. According to the Australian Retailers Association this was $1 billion more than had been expected and was 7.5 per cent more than for the same period last year. A similar increase is expected for the post-Christmas sale period which runs until the middle of this month, boosting total spend to $6.2 billion.

By The Daily Telegraph