Australia retail sales expand in March

21.04.2021 - Korneychuk Evgeniya
Australia retail sales expand in March

Retail sales in Australia breached forecasts in March. The expansion came after an increase in housing prices heavily supported consumer confidence. More so, the reopening of state borders enabled cashed-up households to engage in travel activities again.

On a monthly basis, retail sales recorded 1.4% in March. The figure from the Australian Bureau of Statistics came larger than the 1% expansion predicted by analysts.  In addition to this, the country’s retail turnover of A$30.72 billion jumped 2.3% year on year.

Household consumption was mainly driven by surging house prices, government welfare payments, ultra-low borrowing costs, and employment. While there was an upbeat turnover in March, sales values dropped 0.1% in the first quarter. This indicates that retail and consumption would not contribute to economic growth.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?