Though many Australians are of the view that the global crisis is over and the conditions have started to become better, a new study has come up with the startling discovery that a major proportion is yet not so comfortable in spending their disposable income.

The Australian National Retailers Association conducted a survey on 1000 participants and found that 56 percent believe that the downturn has ended but only 39 percent desired to spend their income on consumer durables, clothing and shoes.

It has been reported that increase in interest rates were eating away the incomes and hurting the consumer confidence. Margy Osmond, Australian National Retailers Association’s Chief Executive said, "Shrewd shoppers will create challenges for retailers this year. There are still a few obstacles on the path to recovery and rising interest rates is the largest hurdle”.

The Reserve Bank is being urged by the Association to not increase the interest rates in a haste due to the toughness faced by the retailers in the first quarter of the year.

The respondents revealed that they have been saving the money obtained from the Federal Government instead of spending it, and would only be ready to spend on a sale declared by the retailer. Discount has been prevailing in the market due to downturn and now the shoppers want to shop with the condition of bargaining.