Australia Retail Sales Sink 1.1% In February

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The total value of retail sales in Australia was down a seasonally adjusted 1.1 percent on month in February, the Australian Bureau of Statistics said on Friday – coming in at A$30.192 billion.

That missed expectations for an increase of 0.4 percent following the 0.3 percent gain in January.

By industry, food retailing led the falls, down 3 percent. All states and territories saw a fall in Food retailing, although the industry remains 6.5 percent above the levels of February 2020.

On a yearly basis, retail sales were up 8.7 percent.

The material has been provided by InstaForex Company – www.instaforex.com

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