Australian shoppers make a comeback, housing market resilient

Australian retail sales rebounded in February as shoppers spent on cafes, clothing and household goods, a tentative sign that consumers may be coming out of the doldrums and contribute to economic growth.

Wednesday’s data from the Australian Bureau of Statistics (ABS) showed retail sales climbed 0.6 per cent in February, beating expectations of a 0.3 per cent rise. That followed an upwardly revised 0.2 per cent gain in January. Sydney Morning Herald – Read more…