Australian retail sales surge in March, might avert first-quarter GDP contraction
The Australian Bureau of Statistics on Wednesday reported its preliminary estimate of retail sales jumped 8.2% seasonally adjusted in March, from February. That beat the previous record of 8.1% from 2002 when consumers brought forward purchases ahead of a goods and services tax.
Strict social distancing rules and the closure of many businesses, including restaurants, began in mid-March.Our Standards:
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