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Economics

Australian Retail Sales Rise, Underscoring Consumer Resilience

Australian retail sales climbed for an eighth straight month in August, indicating the nation’s cashed-up households are coping well with rapid interest-rate increases to tackle escalating inflation.

Sales advanced 0.6% from July, exceeding economists’ forecasts for a 0.4% gain, Australian Bureau of Statistics data showed Wednesday. Retailers have posted higher sales every month this year.