Australia retail sales rose 16.9% mom in May, revised up from preliminary reading of 16.3% mom. But that’s not enough to recovery the -17.7% mom decline back in April.
“The gradual easing of social distancing regulations, and the re-opening of physical stores, bolstered retail trade in May,” said Ben James, Director of Quarterly Economy Wide Surveys. “Retailers across a range of industries reported high numbers of consumers returning to stores, with some retailers noting levels similar to those seen in December.”
