Australia: Retail sales rebound in April
June 1, 2017
Nominal retail sales in April expanded 1.0% month-on-month in seasonally adjusted terms, contrasting the 0.2% contraction in March and recording the best figure since September 2014. The increase was driven by higher sales in the food retailing and cafes, restaurant and take away food categories, offsetting losses in the household goods category.
On a year-on-year basis, retail sales expanded 2.5% in April, up from 2.4% in March. Annual average growth in retail sales inched down from 2.9% in March to 2.8% in April.
Author: Christopher Mc Innes, Economist