Australia retail sales rose 0.6% mom in January, below expectation of 2.0% mom. All states and territories rose, except for Queensland. NSW led the rises, up 1.0%, as Greater Sydney saw COVID-19 restrictions eased in January. Queensland saw a fall of 1.5%, with COVID-19 restrictions in Brisbane leading to falls
Ben James, Director of Quarterly Economy Wide Surveys, said: “There continues to be variations in retail sales between states and territories, as COVID-19 restrictions are tightened or eased in different parts of the country.”
