Preliminary data showed that Australia retail sales rose 16.3% mom in May. that’s the largest rise on 38 years of record. But that wasn’t enough to recover the record contraction of -17.7% mom in April.
ABS said, “there were large rises for clothing, footwear and personal accessory retailing and cafes, restaurants and takeaway food services, as restrictions on trade were lifted during May. Despite the rises, both these industries remain well down on the levels of May 2019.”
