Australia: Retail sales growth falls to 10-month low in February
Retail sales expanded 0.3% in month-on-month seasonally adjusted terms in February, which was a deterioration from January’s 1.1% increase. The figure was largely due to a fall in household goods sales. In addition, food retailing sales contracted at a sharper rate. Lastly, department stores sales gained steam, while cafes, restaurants and takeaway food services sales decelerated.