Key points:The retail recovery bucked recent trends with department stores, household goods and clothing seeing the biggest gainsQueensland reported the biggest growth in sales (+1.6pc), while Tasmania was the only state to see sales fallThe trade surplus grew to a record $4.8 billion as monthly exports edged up to $40 billion and imports fellConsumers threw off their recent gloom, hitting the shops and driving up retail sales by 0.8 per cent over the month.This was well up on both the insipid 0.1 per cent growth recorded in January and most market forecasts."
There were improved results across Department stores led the way with a 3.5 per cent in crease in sales after a month of heavy discounting. However, household goods and clothes sales enjoyed a solid bounce, while the hospitality sector had a fairly flat outcome.
MYR Price at posting:
64.0¢ Sentiment: Buy Disclosure: Held
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