Retail spend rises again
RETAIL spending in Australia has risen for a third straight month and is slightly higher than market expectations, official figures show. Spending rose 0.3 per cent in June to $ 26.15 billion, according to seasonally adjusted data from the Australian Bureau of Statistics.
The increase surpassed market expectations of a 0.2 per cent lift and follows a 0.6 per cent lift in May and a 1.0 per cent jump in April.
Household goods retailing rose 0.9 per cent while clothing, footwear and personal accessory sales rose 0.8.
Customers also spent more on eating out with cafes, restaurants and takeaway food retailers recording a 0.5 per cent increase, but department store sales fell 0.3 per cent.
ANZ economist Jo Masters said retail sales volumes were up 1.5 per cent in the second quarter, the fastest pace since the first quarter of 2013.