Australia: Retail sales rebounds robustly in March
April 21, 2021
Nominal retail sales in March increased 1.4% over the previous month in seasonally-adjusted terms, swinging from February’s 0.8% drop and beating market expectations of a 1.0% rise, according to preliminary figures. The removal of Covid-19 associated restrictions in Victoria and parts of Western Australia supported households’ retail spending.
Healthy increases in cafes, restaurants and takeaway food services as well as in clothing, footwear and personal accessory retailing led the rise, while a decline was recorded in food retailing.