The ABS has released retail sales data for March, which recorded a 1.6% monthly increase with annual growth rising to 9.4%:
Discretionary retail drove the sales:
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Whereas sales rose across all jurisdictions other than South Australia:
The next chart comes from Callam Pickering and shows that cafe & restaurant sales are finally catching up with other retail following the end of losckdowns:
The household income shock from rising interest rates should kill the momentum.