Australia retail sales rise 2.7% in June but outlook muddy

[SYDNEY] Australian retail sales jumped 2.7 per cent in June as shops, restaurants and pubs fully re-opened across large parts of the country, though the outlook was clouded by a second wave of coronavirus infections in the state of Victoria.

Sales adjusted for inflation, however, slipped 3.4 per cent in the June quarter, Tuesday's data from the Australian Bureau of Statistics (ABS) showed, the biggest drop since the introduction of the goods and services tax (GST) in 2000.

Consumer spending is expected to deteriorate further with Victoria declaring a "state of disaster" after a surge in coronavirus infections since late June.

REUTERS