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May had seen Australian retail sales hitting a record level, official data showed on Friday. This followed after coronavirus-related lockdowns were lifted, allowing the entire sector to reopen and recover from a historic drop monitored in April.
The country’s retail sales advanced a seasonally adjusted 16.9% in May. The reading came better after it tumbled a total of 17.7% in April. Sales also hit a total of A$28.97 billion ($20.06 billion) in May 2019, recording a total of 5% increase, according to the Australian Bureau of Statistics (ABS).
An upbeat month-on-month gain of 129.2% in clothing, footwear, and personal accessory retailing was seen in May. More so, cafes, restaurants, and takeaway food services advanced 30.3% as both sectors emerged from low levels in April.
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
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 ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
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