Australian retail sales beat estimates on Women’s World Cup ...Middle East

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Australian retail sales beat estimates on Women’s World Cup
By Bloomberg Published Aug 28, 2023 Australian retail sales rebounded surprisingly strongly in July, suggesting the nation’s heavily indebted households retain spending power even after the Reserve Bank’s 12 interest-rate increases. Archivo Sales advanced 0.5% from a month earlier, when they declined 0.8% and compared with estimates for a 0.3% rise, Australian Bureau of Statistics data showed Monday. The jump was driven by non-food industries. “The rise in July was boosted by additional spending at catering and takeaway food outlets linked to the 2023 FIFA Women’s World Cup and school holidays,” said Ben Dorber, ABS head of retail statistics. The strength in household spending

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