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Australia Retail Sales Unchanged In March

Australia's retail sales remained flat in March, defying economists' forecast for an increase, data from the Australian Bureau of Statistics revealed Tuesday.

The seasonally adjusted retail trade turnover showed no variations in March, following a 0.6 percent rise in February. Meanwhile, it was expected to increase by 0.2 percent.

Sales at department stores dropped 0.5 percent over the month, while food retailing grew by 0.7 percent.

In volume terms, the seasonally adjusted estimate for the March quarter rose 0.2 percent, following an increase of 1.5 percent in the December quarter.

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