Australia Retail Sales

Retail turnover climbed by 1.4% during the month.

However, it declined by 0.2% month-on-month.

It went up by 0.6%, the Australian Bureau of Statistics reported. 

This is the 18th consecutive month of growth, the Australian Bureau of Statistics said.

Its surplus stood at $8.32b, the ABS reported.

Retail sales rose 0.6% during the month.

This comes as more consumers resume social drinking.

This is the third consecutive growth since Q4 2021.

It is the smallest increase so far in 2022.

The country is not expected to return to another strict lockdown.

Spending in these products could reach US$44.7b in 2026.

Despite, retail sales showed signs of improvement.