April 30, 2024 01:50 GMT
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)
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