share_log

Australia Retail Sales Go Flat in July

newsfilter.io ·  Aug 29 22:46

SYDNEY, Aug 30 (Reuters) - Australian retail sales went flat in July after a couple of months of upbeat results boosted by discounting events, with spending on clothes and at department stores taking a hit as shoppers turned frugal.

Data from the Australian Bureau of Statistics (ABS) on Wednesday showed retail sales were unchanged in July from June, when they rose 0.5%. Analysts had looked for a rise of 0.3%.

Sales were up 2.3% on a year earlier, a weak result given Australia's population is surging by 2.6% annually.

Reporting by Wayne Cole; Editing by Jacqueline Wong

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment