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.
On a yearly basis, retail sales growth eased to 3.3 percent from 3.8 percent in the previous month. This was the slowest growth since last November.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.