Australian Retail Sales Moderate in February, Missing Estimates
- Taylor Swift spending helped prop up sales through the month
- Job vacancies decline by 6.1%, extending losses since May 2022
This article is for subscribers only.
Australian retail sales moderated in February despite Taylor Swift-driven demand, as households remained cautious about their finances with inflation still elevated and interest rates at a 12-year high.
Sales rose 0.3% from the prior month, falling short of an estimated 0.4% gain, Australian Bureau of Statistics data showed Thursday. The outcome follows a 1.1% jump in January helped by major tennis and cricket tournaments.