It is a relatively busy morning on the Australian economic calendar. Following the surprise 25-basis point RBA interest rate hike, Australian retail sales figures drew interest this morning.
According to prelim figures, retail sales increased by 0.4% in March versus a forecasted 0.3% increase. In February, retail sales rose by 0.2%.
According to the ABS,
- Food retailing rose by 1.0%, with cafés, restaurants, and takeaway services seeing a 1.5% increase in spending.
- However, spending on clothing, footwear, and personal accessory retailing fell by 1.0%, with spending on household goods tailing falling by 0.4%.
- There was also a 0.2% decline…
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