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Retail Sales Up With Strong Growth Trend

“ABS statistics show that the seasonally adjusted estimate of turnover for the Australian Retail and Hospitality/Services sectors increased by 0.9% in February 2007. A much higher than expected inrease. This follows adjusted increases of 0.8% in January 2007 and 0.3% in December 2006. All Australian states and territories had increases in the seasonally adjusted estimate. The largest increases occurred in the ACT (+2.0%), South Australia (+1.4%) and QLD (+1.3%).Strong Growth In Household Goods Retailing There have been five months of strong trend growth in the Household Goods Retailing sector. Three states, NSW (5 months), QLD (10 months) and NT (three months) have had strong trend growth. Victoria and SA have had at least 5 months of moderate trend growth. The longest run of retail sales growth in five years came on the back of surging jobs growth and resultant consumer confidence.”

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