Australia Retail sales for April, preliminary at up 1.1% and a beat
- expected +0.5% m/m, prior +1.3%
- ‘final’ data for the month will be published on June 3
During April consumer sentiment hit an 11 year high, reflected in these results. Retail sales is separate from spending on services, which also is benefitting from sentiment as lockdowns retreat from sight.
The y/y figures is up a stonking 25.1%, this is a massive base effect and not of much value as an indicator.