Australia retail sales dropped -4.2% mom in Aug, as Victoria sales tumbled

Australia retail sales dropped -4.2% mom, or AUD -1.28B, in August. Over the year, though, sales was up 6.9% yoy comparing with August 2019. Sales dropped sharply by -12.6 mom in Victoria, due to stage-4 restriction sin Melbourne. Excluding Victoria, sales in the rest of Australia dropped -1.5% mom.

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