AUSTRALIAN RETAIL SALES DATA JUST BOUNCED 0.6%

Getty / Dan Kitwood

June retail trade data bounced 0.6% for the month, beating market expectations of 0.4%.

This follows a surprise fall of 0.3% in May related to the unusually warm weather during that month.

However, seasonally adjusted data for the June quarter shows turnover fell 0.2% after a 1.3% increase recorded in the three months to March. This means people spent more but consumption of goods was slightly less which is likely to subtract from second quarter GDP.

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