Ann: Business Update, page-49

Current retail sales ahead.....This is a sign. Bought more today.

AX1- profitable and pays a dividend.

Australian retail sales outpaced expectations in March, surging 1.6 per cent month-on-month to a new record high. Consensus pointed to a 0.5 per cent rise.

The Australian Bureau of Statistics noted that rising prices and easing of restrictions led to increases in turnover in all three months of the March quarter.

Increases were seen across all states and territories except South Australia in March. WA sales rose 1.9 per cent as the state recovered from supply chain issues in February, while a recovery from flooding was evident in Queensland (+3.4%) and NSW (+1.6%).

By industry, household goods (+3.4%) and department stores (+4.1%) led gains, followed by other retailing (2%), cafes, restaurants and takeaway (2%), food (0.5%) and clothing, footwear and accessories (0.5%).

“With household balance sheets well supported and savings rates remaining elevated in Q4, it is possible goods consumption remains elevated for longer,” said NAB economist Taylor Nugent.