“Material slowing in momentum”; retail sales up 0.4% in March

Summary: Retail sales up 0.4% in March, above expectations; Westpac: momentum slowing materially; ANZ: expects subdued spending growth this year; largest influence on result from food. Growth figures of domestic retail sales spent most of the 2010s at levels below the post-1992 average. While economic conditions had been generally favourable, wage growth and inflation rates were low. Expenditures on goods then jumped in the early stages of 2020 as government...

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