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SYDNEY (Reuters) -Australian retail sales surpassed expectations in March in a positive sign for the economy as soaring house prices and a surge in employment boosted consumer confidence and spending.
FILE PHOTO - A shopper holds items and looks at others on sale at a clothing retail store in central Sydney, Australia, March 19, 2017. REUTERS/Steven Saphore
Sales rose 1.4% in March from February, outpacing forecasts for a 1% gain, preliminary data from the Australian Bureau of Statistics (ABS) showed on Wednesday.
Retail turnover of A$30.72 billion ($23.71 billion) was up a hefty 2.3% on March last year, just when the COVID-19 pandemic hit.
Asian Markets A Sea Of Red Amid Pandemic Woes
CANBERA (dpa-AFX) - Asian stock markets are in a sea of red and sharply lower on Wednesday, following broadly negative cues overnight from Wall Street, as traders are rattled amid the continuing surge in the new wave of coronavirus infections in the region, the increasing restrictions on economic activity and the possibility of subsequent lockdown measures in several markets. Asian markets closed mostly lower on Tuesday.
The Australian stock market is significantly lower on Wednesday, extending the losses of the previous session, with the benchmark S&P/ASX 200 below the 7,000 mark, following weak cues overnight from Wall Street. Stocks across all sectors are trading weak, particularly energy and technology stocks.
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Fewer deaths among Australians with dementia during first 10 months of COVID-19 pandemic
The age-standardised death rate of Australians with dementia fell during the first 10 months of 2020, probably as a result of measures designed to prevent COVID-19 infections also limiting the spread of other infectious respiratory diseases, according to a new report from the Australian Institute of Health and Welfare (AIHW).
The report, Dementia deaths during the COVID-19 pandemic in Australia, uses provisional mortality data collected by the Australian Bureau of Statistics to examine deaths among people who had dementia recorded on their death certificates between January and October 2020.
Australia Retail Sales Jump 1.4% In March The value of retail sales in Australia was up a seasonally adjusted 1.4 percent on month in March, the Australian Bureau of Statistics said on Wednesday – coming in at A$30.724 billion.
That beat expectations for an increase of 1.0 percent following the 0.8 percent decline in February.
Cafes, restaurants and takeaway food services (6 percent) led the industry rises, which were driven by Victoria and Western Australia. Similarly, these states saw rises for Clothing, footwear and personal accessory retailing, and Department stores. These rises were offset by a 1 percent fall in Food retailing.
For the first quarter of 2021, retail sales were down 0.1 percent.
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