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(Bloomberg) -- Australian retail sales rose by more than expected in May with spending largely driven by discounts in the face of elevated borrowing costs, an outcome that further strengthens the case for an interest rate hike this year.
Most Read from Bloomberg
Democrats Weigh Mid-July Vote to Formally Tap Biden as Nominee US Allies Allege China Is Developing Attack Drones for Russia China Can End Russiaâs War in Ukraine With One Phone Call, Finland Says S&P 500 Closes Above 5,500 in Rec...
>>> Read more: Australia Retail Sales Jump, Boosting Case for RBA Hike
Most Read from Bloomberg
Democrats Weigh Mid-July Vote to Formally Tap Biden as Nominee US Allies Allege China Is Developing Attack Drones for Russia China Can End Russiaâs War in Ukraine With One Phone Call, Finland Says S&P 500 Closes Above 5,500 in Rec...
>>> Read more: Australia Retail Sales Jump, Boosting Case for RBA Hike
