Australia: Retail sales rebound in July
Retail sales expanded 0.5% in month-on-month seasonally-adjusted terms in July, which contrasted June’s 0.8% decrease. Looking at the details of the release, household goods sales decreased at a faster rate in July, while clothing and footwear sales gained momentum. Meanwhile, food retailing sales dropped. Lastly, department stores sales gained steam, while cafes, restaurants and takeaway food services sales gained steam.