Australia retail sales rose 1.8% mom to AUD 33.09B in February, well above expectation of 1.0% mom.
Director of Quarterly Economy Wide Statistics, Ben James, said February’s result saw retail sales reach their second highest level on record after November 2021 and turnover continuing to regain lost momentum caused by the peak of the Omicron outbreak in January.
“Lower COVID-19 case numbers in February, alongside the further easing of restrictions over the month, saw consumer spending return to similar behaviour seen previously as states and territories come out of a COVID-19 wave,” James said.
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