Australia's retail sales declined for a second straight month in July as some regions went into lockdown following new cases of coronavirus infections, preliminary data showed Friday.
Retail sales fell a seasonally adjusted 2.7 percent from June, when they dropped 1.8 percent, the Australian Bureau of Statistics said. Economists had forecast a 2.3 percent slump.
The monthly decline was the worst since December 2020. In May, sales grew 0.4 percent.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.