Retail sales in Australia fell short of forecasts in April

2023.05.25 22:05

Retail sales in Australia fell short of forecasts in April

By Tiffany Smith

Budrigannews.com – In April, Australian retail sales were flat as consumers cut back on eating out and spending on food because of the high cost of living and rising interest rates.

Friday’s retail sales data from the Australian Bureau of Statistics (ABS) showed no change from March’s 0.4% increase. A 0.2% increase was anticipated by analysts.

After growing by 5.4% in March, sales of A$35.26 billion ($23.92 billion) increased by 4.2 percent from the previous year.