Preliminary data from Australia showed retail sales rose 2.4% mom in June, slowed from May’s 16.9% mom rise. Rises in Cafes, restaurants and takeaway food services exceeded 20% mom for the second consecutive month, but will remain -17% below the levels of June 2019, while Clothing, footwear and personal accessory retailing rose around 19% mom, remaining -6% below June 2019 levels.
There was also some evidence of stockpiling at the end of June too, most evident in Victoria, which is now back in lockdown as coronavirus cases rose to new high.
