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By Ambar Warrick
Investing.com-- Australian retail sales rose more than expected in July as elevated inflation and strength in the jobs market kept consumers spending despite higher borrowing costs.
Preliminary data from the Australian Bureau of Statistics (ABS) showed on Monday that retail trade in Australia rose 1.3% in July from the prior month, far more than expectations for a rise of 0.3%. Retail trade jumped at an annual rate of 16.5%.
Shopping in department stores was the biggest contr...
>>> Read more: Australian Retail Sales Rise More Than Expected in July
Investing.com-- Australian retail sales rose more than expected in July as elevated inflation and strength in the jobs market kept consumers spending despite higher borrowing costs.
Preliminary data from the Australian Bureau of Statistics (ABS) showed on Monday that retail trade in Australia rose 1.3% in July from the prior month, far more than expectations for a rise of 0.3%. Retail trade jumped at an annual rate of 16.5%.
Shopping in department stores was the biggest contr...
>>> Read more: Australian Retail Sales Rise More Than Expected in July
