Retail sales up 1.2pc in June, smashing forecasts as shoppers splurge on big-ticket EOFY bargains
Sales rose 1.2 per cent in June, according to new figures from the Australian Bureau of Statistics on Thursday. It follows a small 0.5 per cent lift in May. Forecasts were for a rise of 0.3 per cent.
'The strong June month rise in retail turnover was driven by discounts linked to sales and new product releases,' ABS head of business statistics Robert Ewing said.
'After steady growth throughout the year, mid-year sales events increased spending on discretionary items like furniture, electrical goods and clothing items.
'Consumers are targeting sales events with a focus on value for big ticket items like household furniture, bedding, electronic devices and TVs.'
More to come.
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