IANS | 04 Jul, 2012
Australian retail turnover rose 0.5 percent in May, following a rise of
0.1 percent in April, according to figures released Wednesday by the
Australian Bureau of Statistics (ABS).
The ABS said the majority
of industries recorded a rise in May, with cafes, restaurants and
takeaway food services and household goods retailing being the main
drivers of the growth, reported Xinhua.
Retail trade rose in the
month to 21.31 billion AU dollars ($21.94 billion), compared to 21.20
billion AU dollars ($21.83 billion) in April, the latest ABS data
showed.
Economists had forecast a rise of 0.2 percent in May.
Australian
economists believe that the better than expected retail trade figures
is another sign of picking up in the Australian retail sector.
