Australia's retail sales increased at a slower-than-expected pace in May due to the drop in food-related spending, data from the Australian Bureau of Statistics showed on Wednesday.
Retail turnover grew 0.2 percent on a monthly basis, after remaining flat in April. However, this was weaker than economists' forecast of 0.3 percent.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.