Jobs and retail sales hold up in resilient Australian economy despite 2023 growth fears

Consumer prices rose 7.3% in the year to November, boosting the chances of another RBA interest rate rise in February

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Australia's economy was resilient towards the end of last year, with job vacancies and retail sales holding up, even as the World Bank joined other agencies to slash the outlook for growth in 2023.

Data for November, released by the Australian Bureau of Statistics (ABS) on Wednesday, showed consumer price inflation picked up in the month while the number of firms advertising for staff increased and consumers set fresh records for retail spending.