Australia Retail Sales Rebound At Record Pace In May

Australia's retail sales expanded in May at the fastest pace in the 38 year history of the series, after the easing of coronavirus containment measures, data from the Australian Bureau of Statistics showed Friday.

Retail sales grew by 16.3 percent on a monthly basis in May, the biggest on record, following a record decline of 17.7 percent in April.

Turnover rose 5.3 percent from the same period last year.

There were large increases in turnover in clothing, footwear and personal accessory retailing and cafes, restaurants and takeaway food services, as restrictions eased throughout the month.

Data showed that the monthly rise in clothing, footwear and personal accessory retailing exceeded 100 percent but remained more than 20 percent from last year.

Food retailing rose 7.2 percent from April. At the same time, perishable goods turnover advanced 7.0 percent and non-perishable goods turnover gained 3.8 percent. and All other products turnover gained 5.8 percent in May.

News are provided by InstaForex