Australia retail sales rebound in June, up by 0.6 percent

Nathan Andrada – Fourth Estate Cooperative Contributor

Canberra, Australia (4E) – Retail sales in Australia grew at a higher-than-anticipated pace in June, according to an Australian Bureau of Statistics report released Monday.

In seasonally adjusted terms, retail turnover bounced back by 0.6 percent in June on month after dropping 0.3 percent in May. Economists had forecast a 0.3 percent gain in sales.

Monday’s results showed that sales of household goods increased the most, advancing by 1.7 percent in June after a 0.2 percent rise in May. Sales of footwear, clothing and personal accessory rebounded by 1.4 percent, after declining 2.8 percent in May.

Other retail sales also bounced back in June, rising by 0.9 percent, following a 0.3 percent drop in the previous month. Food sales climbed 0.5 percent after a 0.2 percent rise in May.

Restaurants, cafes and takeaway food services sales dropped 0.6 percent. Meanwhile, sales in department stores fell 0.5 percent.

Retail sales declined 0.2 percent in terms of volume in the June quarter from the previous three months, compared with a 1.3 percent gain in the previous period. Economists forecast a 0.5 percent decline in retail sales in the quarter ended June.

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