Sydney (ANTARA News/Asia Pulse) - A surge in motor vehicle sales in October could help convince the Reserve Bank of Australia (RBA) to lift interest rates for the third straight month in December.

Australian new motor vehicle sales rose by 3.7 per cent, seasonally adjusted, to 81,122 units in October, from 78,243 units in September, the Australian Bureau of Statistics (ABS) said on Monday.

The October figure was 15 per cent above the series' six year low of 70,518 units in March. CommSec economist Savanth Sebastian said the data could be the first in a series of positive indicators the RBA will use to make its December interest rate decision.



Source:
Business in Asia Today - Nov 23, 2009
published by <a href="http://www.asiapulse.com">Asia Pulse</a>