Australia: Retail sales growth eases in May
Retail sales growth remained constant at 0.9% in month-on-month seasonally-adjusted terms in May.
Looking at the details of the release, household goods sales rebounded in May, while clothing and footwear sales swung to contraction. Lastly, department stores sales accelerated, while cafes, restaurants and takeaway food services sales lost pace.
Retail sales increased 10.3% in annual terms in May, which was a deterioration from April’s 11.1% increase.