News: BHP Commodity stocks push Australian shares higher ahead of GDP data

	  ASX 200 fell 2.9% in Feb 

	  Miners lead gains on the bourse 

	  Harvey Norman top laggard on ASX after HY profit slumps 

(Updates to close)

Australian shares closed higher on Tuesday, with commodity stocks leading gains as economic data showed the pulse of Australian consumer slowing amid rising inflation and sustained rate hikes while the focus shifts to the country's GDP data.

The S&P/ASX 200 index (xjo) ended 0.5% up at 7,258.40, in line with global markets. For the month, the index shed 2.9%.

Data from the Australian Bureau of Statistics earlier in the day showed retail sales rebounded in January, though the underlining pace was slowing.

Even though the retail sales data shows some consumer resilience, sales are slowing down, indicating that the Reserve Bank of Australia's rate hikes are having their desire effects, said Josh Gilbert, market analyst at eToro.

Investors would focus on quarterly GDP data due on Wednesday for further clues on RBA's stance on rate hikes.

Analysts are expecting the economy to grow 0.7% in the December quarter, and 2.7% for the year, according to a Reuters Poll.

"This reading now throws the ball back into the RBA’s court, with the economy starting to weaken but inflation still elevated heading into next week’s rate decision. The Reserve Bank may still decide to raise rates, but the peak of this cycle is in touching distance," eToro's Gilbert said.

Local miners .AXMM advanced 1.7% with heavyweights Rio Tinto (RIO) , BHP Group (BHP) and Fortescue Metals Group (FMG) adding between 1.1% and 2.8%.

Gold stocks .AXGD added 1.8% as sector-major Northern Star Resources (NST) rose 2%.

Energy stocks .AXEJ climbed 1.5% on strong oil prices as hopes of a solid economic rebound in China drove up fuel demand.

Santos (STO) and Woodside Energy (WDS) added 1.6% and 2.2%, respectively.

In other news, the country's top electronics retailer Harvey Norman Holdings (HVN) fell 7.5%, topping the laggards on the bourse after reporting a 15% slump in half-year profit.

New Zealand's benchmark S&P/NZX 50 index (nz50) closed 0.9% higher at 11,894.58 points.