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The ABS notes that "Australian retail.....>
AUSTRALIA: The ABS notes that "Australian retail turnover rose 16.3% in May '20,
seasonally adjusted, according to preliminary retail trade figures. This is the
largest seasonally adjusted rise ever published in the 38 years of the Retail
Trade survey, following the largest ever seasonally adjusted fall of 17.7% in
April '20. Turnover rose 5.3% when compared to May '19. These preliminary
figures show rises in every industry. In % terms, the rises are particularly
strong in industries that recorded low levels of trade in April. There were
large rises for clothing, footwear and personal accessory retailing and cafes,
restaurants and takeaway food services, as restrictions on trade were lifted
during May. Despite the rises, both these industries remain well down on the
levels of May '19. There were also large rises in household goods retailing,
where retailers reported increases in spending relating to homes, including
furniture, home entertainment, home offices, and home improvement. Food
retailing rose as households continued to consume additional food and beverages
at home during May. Levels in liquor retailing remain high, as restrictions on
hospitality, such as bars, clubs and events, remained in place for May 2020."
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.