Posted.
April 03, 2020 15: 20:05
Retail sales increased in February but the devil was in the information, with the effect of the coronavirus pandemic currently obvious, and economists cautioning that a short-term boost from panic purchasing and stockpiling will not last.
Key points:
- The ABS states retail turnover increased 0.5 percent in February
- Supermarket and supermarket sales increased 1.1 per cent and outlet store sales lifted 3.1 per cent
- Financial experts expect there were even more extreme swings in costs in March however alert sales will fall as soon as stockpiling ends
The current figures from the Australian Bureau of Stats (ABS) show retail turnover rose 0.5 per cent in the month, seasonally changed.
The data pre-d