Retail sales higher
NZPA Canberra Retail sales in Australia rose 2.2 per cent during June on a seasonally adjusted basis, continuing the slow recovery in consumer de-; mand. The figures were a further i sign that economic recovery i was now’ under way, the Federal Treasurer (Mr Lynch) says. The provisional estimate of the value of retail sales — excluding motor vehicles, parts, petrol, etc. — for June was sAustl632M. The seasonally-adjusted; estimate was $1721M. The provisional estimates) *have tended to understate the'
; improvement in sales during) recent months, and the sea-1 . sonal adjustment has been ■ somewhat unreliable. In issuing the figures, the Bureau of Statistics repeated I that changes between months I should not be over- ; emphasised. Comparison of the Junequarter sales with those for the March quarter, showed an increase of four per cent, seasonally adjusted. This was ahead of the increase in the consumer price index for the June quarter of 2.5 per cent.) The value of retail'sales fori June, 1976, was 17.4 per cent [higher than in May, 1975, (compared with an inflation 'rate of 12.3 per cent.
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Press, 4 August 1976, Page 22
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180Retail sales higher Press, 4 August 1976, Page 22
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