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MNI BRIEF: Aussie Retail Sales Fall 0.4% M/M In March

(MNI) Melbourne

Australian retail sales fell 0.4% m/m in March, more than the market’s expected 0.2% drop, following February’s 0.2% rise, data from the Australian Bureau of Statistics showed Tuesday.

“Underlying retail turnover has been flat for the past six months and was up only 0.8% compared to March 2023," noted Ben Dorber, head of retail statistics at the ABS.

"Outside of the pandemic period and introduction of the GST, this is the weakest growth on record when comparing turnover to the same time in the previous year." (See chart)

Daniel covers the Reserve Bank of Australia and the Reserve Bank of New Zealand and leads the Asia-Pacific team.
Daniel covers the Reserve Bank of Australia and the Reserve Bank of New Zealand and leads the Asia-Pacific team.

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