Australia: Retail sales expand at quickest pace since November 2021 in June
Latest reading: Retail sales grew 1.2% in month-on-month seasonally adjusted terms in June, which was above May’s 0.5% increase. The result was triple market expectations and marked the best reading since November 2021. June’s improvement was driven by stronger readings for household goods and food retailing sales.
Meanwhile, annual average retail sales growth rose to 3.3% in June (May: +3.1%). This signals an improving trend in the retail trade sector.