Aussie retail sales advance in May as economy resumes
May had seen Australian retail sales hitting a record level, official data showed on Friday. This followed after coronavirus-related lockdowns were lifted, allowing the entire sector to reopen and recover from a historic drop monitored in April.
The country’s retail sales advanced a seasonally adjusted 16.9% in May. The reading came better after it tumbled a total of 17.7% in April. Sales also hit a total of A$28.97 billion ($20.06 billion) in May 2019, recording a total of 5% increase, according to the Australian Bureau of Statistics (ABS).
An upbeat month-on-month gain of 129.2% in clothing, footwear, and personal accessory retailing was seen in May. More so, cafes, restaurants, and takeaway food services advanced 30.3% as both sectors emerged from low levels in April.