Australia: Retail sales rebound in April
Retail sales bounced back in April, expanding 0.1% month-on-month in seasonally adjusted terms (March: -0.4% mom). Looking at the details of the release, the turnaround primarily reflected rebounds in department store sales, and cafes, restaurants and takeaway food services. Moreover, household goods sales decreased at a softer rate. That said, food retailing swung into contraction in the month, limiting the improvement.