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Australia Retail May 2024

Australia: Retail sales growth speeds up in May

Retail sales grew 0.6% month-on-month in seasonally adjusted terms in May (April: +0.1% mom), easily exceeding market expectations and marking a four-month high. Looking at the details of the release, the acceleration primarily reflected rebounds in household goods sales and food retailing sales. That said, May saw contractions in department store sales plus café and restaurant sales.

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