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Retail spending expected to rise in April

Retail spending is expected to have edged higher during April when Australian Bureau of Statistics' retail trade figures are unveiled on Thursday.

Official retail trade figures for April are expected to show ongoing sluggish consumer spending.

Economists expect the Australian Bureau of Statistics to unveil a 0.3 per cent lift in retail spending for April when it releases the latest data on Thursday.

This follows a surprise fall of 0.1 per cent to $25.63 billion in March, when the consensus was for a 0.3 per cent rise following February's 0.2 per cent drop.

The consecutive falls in consumer spending had triggered warnings from Citi Group analysts that the retail sector could be on the verge of a recession.

The analysts said that retail trade growth had been negative in three out of the past four months after the March figure - the sector's worst performance in about five years.

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Commonwealth Bank research released on Wednesday said weak wages growth was the single biggest factor hurting retail sales as households prioritise spending on health, utilities and education.


1 min read

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Source: AAP



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