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Australian shoppers set to splurge USD12.6b this week

Retailers expect shoppers to spend almost AUD12 billion (USD12.64b) within Australia this week in the run-up to Christmas, nearly twice as much as last week.

Customers are expected to part with nearly AUD520 each on average in the week before Christmas, according to projections from the Australian National Retailers Association and GE Capital Christmas Retail Index.

This week NSW shoppers are tipped to be the biggest spenders with an estimated total of over AUD2.5b, followed by Victorians on AUD1.97b, Queenslanders on AUD1.9b and West Australians on AUD1.1b.