The May 2023 seasonally adjusted estimate: Rose 0.7% month-on-month. Rose 4.2% compared with May 2022. {table} Total retail turnover: {charts} Analysis by industry: Food retailing: Food retailing rose 0.3% ($46.8m) in May, in seasonally adjusted terms. {chart} Household goods retailing: Household goods retailing rose 0.6% ($32.5m) in May, in seasonally adjusted terms. {chart} Clothing, footwear and personal accessory retailing: Clothing, footwear and personal accessory retailing fell 0.6% (-$18.5m) in May, in seasonally adjusted terms. {Chart} Department stores: Department stores fell 0.5% (-$10.3m) in May, in ... (full story)

Australia Retail Sales grew 0.7% monthly in May versus 0.1% expected and 0.0% prior, per the latest economic update from the Australian Bureau of Statistics. "Sales of A$35.52 billion ($23.52 billion) were up 4.2% from a year earlier, matching April's growth but a world away from post-lockdown boom levels of 19% seen in the middle of last year," said Reuters after the data release. AUD/USD reversses Aussie inflation-induced losses: Following the data, AUD/USD rises around 20 pips to refresh intraday high near 0.6620, consolidating the previous day’s heavy slump marked due to the disappointing Aussie inflation. (full story)