Australia retail sales rose 0.1% mom in May, well below expectation of 0.7% mom. Comparing to a year ago, sales rose 7.4% yoy.
Ben James, Director of Quarterly Economy Wide Surveys, said: “There were mixed results across the industries and states and territories, with COVID-19 restrictions in Victoria impacting the May result. Victoria fell 1.5 per cent as the state entered its fourth lockdown on May 28 with trade restricted for physical stores.”
