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Australian January retail sales rebound 1.9% after falling sharply in December

Australian retail sales rebounded in January, rising 1.9% to 350.91 billion Australian dollars, according to the Australian Bureau of Statistics. The figure is in line with analysts’ expectations and marks a recovery from the 3.9% decline in December.

Sales were driven by a recovery in food, household goods, clothing, department store, cafe and restaurant sales, as well as other retail sales. Year-on-year, January retail sales increased 7.5%.

Meanwhile, online retail sales rose 10.3% in January, slightly slower than December’s 10.4% gain.

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