FEAR OF BUYING RESISTANCE

Press, Volume LXXXVII, Issue 26451, 19 June 1951, Page 9

FEAR OF BUYING RESISTANCE

RETAIL TRADE IN AUSTRALIA Retail traders are showing uneasiness at the rapidly increasing prices of many goods, particularly woollens, fearing that extensive buying resistance will set in soon. This is stated by the National Bank of Australasia, Ltd., in its monthly summary. The bank points out. however, that although some sections of the community, particularly those whose incomes are not automatically adjusted to Increasing living costs, are being forced to curtail their purchases, the overall picture is one of money being freely spent on goods and services of all kinds. Professional men, on the whole, have more work offering than they can cope with, amusements are well patronised, and no undue difficulty in the collection of individuals’ accounts is apparent. Some general stores had turnovers in May about 20 per cent, above those a year earlier. Part of this increase was due to price rises, but volume of sales improved, in spite of difficult stock positions in an increasing number of lines. While "panic” buying has abated to a large extent In recent months, the bank adds, storekeepers say it is still in evi-