Australian retail sales rebounded in May but still missed expectations for a third straight month, a blow to hopes for a sustained and much-needed pick up in consumer spending. Retail sales rose 0.3 percent in May from April, when they dipped 0.1 percent, data from the Australian Bureau of Statistics showed on Friday. That was short of the 0.5 percent increase forecasted by analysts and left consumption looking soft mid-way through the second quarter. It will also be a disappointment to the Reserve Bank of Australia (RBA) which cut interest rates to an all-time low of 2 percent early in May, aiming in part to boost ... (full story)