Breaking Down the Latest Retail Sales Data from Australia: May 2024 Sees a 0.6% Increase, Exceeding Expectations
Retail sales in Australia have shown a stronger performance than expected, according to recent data released by the Australian Bureau of Statistics. Despite this positive news, the ABS has played down the results, attributing the increase in retail turnover to early end-of-financial year promotions and sales events. This suggests that consumers are still cautious in…