Retail sales rise in May as consumers shrug off debt and wages worries

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Posted

July 04, 2017 11:56:45

Consumers appear to have put worries about low wages growth and high household debt behind them to open their wallets in May.

Retail sales rose 0.6 per cent, on a seasonally adjusted basis, down on the 1 per cent growth recorded in April, but still three times the rate that most economists expected after a poor start to the year.

Sales were up 3.2 per cent over the past year.

More to come.

Topics:

retail,

australia



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