Australia’s retail recovery on track

The Australian retail sector grew 0.4 percent in June, beating expectations of a 0.3-percent rise, according to retail trade report from the Australian Bureau of Statistics. The report showed that in the three months to June, the sector grew 1.2 percent in seasonally adjusted terms. Although somewhat modest, the figures are a welcome sign for economists following a lackluster March quarter which saw Australian retail trade almost stagnant, with a marginal increase of 0.2 percent.