Australians have stayed away from the shops in October despite a drop in interest rates.

The Australian Bureau of Statistics reported there was no increase in retail spending through October.

Clothing sales fell by 0.8 per cent while department stores reported a 0.8 per cent drop.

CBA chief economist Michael Blythe tells Ross Greenwood the November results will be better.

“Consumers seem to finally have opened their wallets in response to those Black Friday sales.”

Click PLAY below to hear the full interview

Image: Getty/Atit Phetmuangtong/EyeEm