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1.Market Observations, 8.Was Sticky

5 July 2018 (AFR) – Retail sales rise 0.4 per cent in May, boosted by department store sales

(5 July 2018, AFR, p3, by Sarah Turner)

‘The latest retail sales figures underline the ongoing risks to the Australian economy from a lacklustre consumer, with spending data for May showing shoppers remain relatively cautious as house prices soften and wages remain stubbornly stagnant. The data showed retail sales rose 0.4 per cent on a seasonally-adjusted basis in May, which was lower than the upwardly-revised 0.5 per cent increase recorded in April but exceeded the 0.3 per cent advance that economists had been expecting, ‘

Read more at AFR.com (might need AFR login access, or try: AFR.com /trial)

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