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Stalling retail turnover, contracting activity in construction and home sales which remain low support the interest rate cuts and suggest more are likely.
Billabong shares have slumped to a record low after Monday's profit warning and analysts warn the surf may not be up for the embattled retailer.
Retail spending rose in November, a new private sector survey shows, despite major retailers complaining of weakening demand.
Billabong's profit warning amid tough retail conditions has caused the surfwear company's shares to plunge, dragging other retailers with it.
Harvey Norman has hit back after being fined $1.25 milion for misleadingly advertising 3D TVs and not clearly stating some conditions in its catalogues.
David Jones says there has been a heavy investment in Christmas advertising as the department store operator braces for a difficult festive trading season.
