Tough times? Head for the coffee shop

Australians look for a strong coffee when times get tough.

And perhaps a light meal, as well.

The Australian Bureau of Statistics has confirmed this, noting that the nation’s cafes, restaurants and take away food stores have continued to record strong trend growth.

In fact, their trade has now increased by at least 1 per cent a month, in trend terms, over the past 12 months.

The bureau also noted that, on raw figures, turnover in Australia’s shops increased by 24.5 per cent in December, as Australians bought their Christmas presents.

After seasonal adjustment, though, retail sales in December actually fell by 0.7 per cent.

But that figure did no discourage the Federal Treasurer, Wayne Swan.

He told Parliament that, in value terms, retail sales in December 2009 were 2.1 per cent higher than those of the same month, in the previous year.

Mr Swan also said that retail sales in the December quarter were 1.1 per cent higher than those of the September quarter.

He said, too, that building approval figures, that the Bureau has just released, also reflect the relatively strong performance of the Australian economy.

These show that total home building approvals rose by 2.2 per cent in December to a level 53.3 per cent higher than that of December 2008.

The government’s subsidy for first home buyers undoubtedly contributed to that result.

The Housing Industry Association was also pleased, saying building approvals are “moving in the right direction.”