Retail spending jumped 8.5% in March

Retail spending rose 8.5 per cent in March, better than market expectations.

Seasonally adjusted retail spending rose to $30.11 billion and followed a rise of 0.6 per cent in February, according to Australian Bureau of Statistics data released on Wednesday.

The result was slightly up on analysts’ consensus forecast of an 8.0 per cent rise.

For the March quarter, retail sales volumes rose at a more moderate 0.7 per cent to $80.72 billion.

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