Australia’s retail sales rose by 0.1% mom to AUD 35.7B in April, falling short of the expected 0.3% mom increase. This modest rise followed a -0.4% mom decline in March, indicating continued weakness in consumer spending.
Ben Dorber, ABS head of retail statistics, commented, “Underlying retail spending continues to be weak with a small rise in turnover in April not enough to make up for a fall in March.”
He further noted that “since the start of 2024, trend retail turnover has been flat as cautious consumers reduce their discretionary spending.”
