SYDNEY, March 28 (Reuters) - Australian retail sales
eked out a meagre gain in February after wild swings around
year-end holidays, indicating shoppers are reining in spending
in the face of higher costs of living and rising interest rates.
Data from the Australian Bureau of Statistics (ABS) on
Tuesday showed retail sales rose 0.2% in February from January,
when they picked up a revised 1.8%. Sales of A$35.14 billion
($23.42 billion) were 6.4% higher than a year earlier.
The result was just a touch above median forecasts of a rise
of 0.1%. Estimates from analysts ranged from minus 1.2% to plus
1.3%.
($1 = 1.5004 Australian dollars)
(Reporting by Stella Qiu; Editing by Christopher Cushing)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.