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Australia retail sales dropped -1.1% mom in Feb, lockdown in Vic and WA

ActionForex
By ActionForex

Australia retail sales dropped -1.1% mom, or AUD -346.5m, in February, worst than expectation of 0.4% mom rise. The falls were led by Victoria (-4%) and Western Australia (-6%). Both states saw COVID-19 lockdown restrictions during the month.  Partially offsetting falls in these states were rises in New South Wales and Queensland, which had seen COVID-19 restrictions impact January.

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