Headline : Australia retail sales shrink 0.4% in March amid sticky inflation, high rates

Read more from the original article on here at ng.investing.com.

---

No. of Paragraph 8

Investing.com-- Australian retail sales unexpectedly shrank in March as consumer spending remained under pressure from sticky inflation and high mortgage rates- a trend that is expected to continue in the coming months. 

Retail sales fell 0.4% month-on-month in March, data from the Australian Bureau of Statistics (ABS) showed on Tuesday. The reading was weaker than expectations for an increase of 0.2%, and marked a sharp reversal from the 0.3% rise seen in February. 

Spending had received a boost in February from a series of concerts by pop sensation Taylor Swift- a trend that did not spill over into the following month. Retail spending remained largely under pressure from a higher cost of living.

“The Taylor Swift-inspired boost in turnover for fashion and accessory retailers last month has proved to be temporary with an instant reversal this month,” Ben Dorber, ABS head of retail statistics, said. 

Read more from the original article on here at ng.investing.com.

Related Headlines : Australia retail sales shrink 0.4% in March amid sticky inflation, high rates (in Google.com):

Hello, below you have a "Web" tab to read more content and an "Image" tab to get related pictures

Example : Trends, Country, News, Jobs, Scholarships, Investment, Business, Politics, Adverts, Fashion, Events, Technology and more.