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3RD STRAIGHT MONTH OF AUST. RETAIL SALES RISES SHOWS CONFIDENCE.

Publication: AsiaPulse News
Publication Date: 01-JUL-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
SYDNEY, July 1 Asia Pulse - A third consecutive increase in monthly retail sales in Australia suggests consumers are becoming increasingly confident about the economy and points to positive economic growth in the June quarter, economists say.

Australian retail trade at current prices rose 1.0 per cent in May to a seasonally adjusted A$19.550 billion (US$15.75 billion), the Australian Bureau of Statistics (ABS) said on Wednesday.

It was the third rise in as many months and above market forecasts of an 0.5 per cent increase.

Spending at department stores rose 5.5 per cent in May, while spending on clothing and soft goods advanced 2.9 per cent.

Macquarie...

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