Australian Retail Sales Decline Less Than Expected in December: In the early hours of Monday,
the Australian Bureau of Statistics released retail sales data for December,
which came in better than expected despite showing a slight contraction.

Contents

Australian Retail Sales

Swiss Manufacturing
Elon Musk

Australian Retail Sales Decline Less Than Expected in December

In the early hours of Monday, the Australian Bureau of Statistics released retail sales data for December,
which performed better than expectations despite showing a slight contraction.

According to the data, Australian retail sales declined by 0.1% month-over-month in December,
while forecasts had anticipated a more significant contraction of around 0.7%.
This follows a revised 0.7% growth in November, initially reported at 0.8%.

Retail sales recorded 0.1% quarterly growth in the final quarter of 2024, compared to 0.5% growth in Q3.

Swiss Manufacturing Sector Continues to Contract, Reaching Its Lowest Level Since July

Data released by the Swiss Purchasing and Supply Management Association
on Monday indicated that the Swiss manufacturing sector continued to contract in January,
exceeding expectations and reaching its lowest level since July.

According to the report, the Swiss Manufacturing PMI fell to 47.5 in January, down from 48.4 in December,
performing worse than market expectations of an increase to 49.0.

The Purchasing Managers’ Index (PMI) is a leading economic indicator that reflects
The overall health of the Swiss economy is measured by measuring how quickly
companies respond to market conditions and provide valuable insights for purchasing managers on the general economic landscape.

Elon Musk: Working with Trump to Shut Down USAID

Elon Musk, co-chair of the U.S. Government Efficiency Department,
stated that he is working alongside President Donald Trump to shut down
the United States Agency for International Development (USAID)
as part of the new Republican administration’s policy to reduce government spending.

Musk, the CEO of Tesla and SpaceX, revealed in a live audio broadcast
on his platform X, he has discussed the issue with Trump multiple times, and the former president has fully supported the initiative.

NBC News reported that during his downing of USAID,
Musk did not specify the legal grounds for shutting down approval or whether the White House
has the authority to make such a decision without Congressional approval.

Australian Retail Sales Decline Less Than Expected in December

Australian Retail Sales Decline Less Than Expected in December

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