Australia: Retail sales expand in April
June 2, 2011
In April, retail sales rose 4.0% in nominal terms over the same month the year before, according to the Australian Bureau of Statistics (ABS). The result was almost double the 2.1% increase recorded in March. On a month-on-month basis, retail sales expanded 1.1% over March, which contrasted the 0.3% drop recorded in the previous month and defied market expectations of a 0.4% rise. As a result of the April reading, the trend edged up as annual average growth in retail sales inched up from 2.3% in March to 2.4%.
Author: Armando Ciccarelli, Head of Data Solutions