Australia's retail sector experiences monthly rise
3/07/2008(4:33 PM)
Australia has experienced a monthly rise in retail sales for only the second time this year.
New figures found that retail sales increased by 0.7 per cent in May, which is the largest rise since November 2007.
The largest rises were seen in "non-discretionary spending" on products such as food and clothing, which experienced an increase of 1.2 per cent month-on-month.
Rises in the figures for food sales were unexpected and accounted for one per cent of the rise in non-discretionary spending.
"Discretionary spending" on recreational goods remained "flat" after rising 0.5 per cent during April.
Jonathan Kneebone of creative agency the Glue Society recently said that a new chain of "Aussie-themed" stores should be opened to promote the country and its products around the world.
Inside Retailing reports that he spoke of a shop that is as symbolic as "Ikea is of Sweden or McDonald's is of America".
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