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Australian retail sales advanced 2.4% in June. This came as an upbeat figure following a 16.5% increase seen in May as the land down under resumed its economic operations from coronavirus-related lockdowns.
The country’s retail sales were estimated to have reached a total of A$29.7 billion ($21.19 billion) in June, recording a total of 8.2% increase in the same period last year. The figure came larger than the 2.7% annual growth monitored last year, the Australian Bureau of Statistics reported on Wednesday.
The jump seen in retail sales was mainly from large increases in turnover in cafes, restaurant and takeaway food services, apparel, and personal accessory retailing. The ABS said that late in June, there were signs of stockpiling of retail products such as toilet paper, flour, rice, and pasta.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Samsung Electronics’ shares joined TSMC, its competitor, as both extended gains on Tuesday. This was mainly from upbeat expectations that Intel Corp’s plan of outsourcing more chip producers would favor the chipmakers. Shares of ...
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