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Retail sales experience unexpected drop

Retail sales suffered an unexpected fall in June after three consecutive months of gains.

The ABS report revealed a 1.4 percent seasonally adjusted drop in June. This follows one percent gains in May and April.

Department stores were the worst hit with sales falling 8.8 percent, while household goods experienced an increase of 2.9 percent – the only sector to experience a jump in sales.

The report suggests the impact of the Government’s cash handouts is dwindling after consumer spending helped boost retail sales and avoid recession in the first quarter.

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