Australian retail sales rose in February, buoyed by demand for furniture and other household goods, in the latest sign that low interest rates are boosting spending.
Retail sales rose 0.2% in February from a month earlier, the Australian Bureau of Statistics said Thursday, compared with a 0.3% rise expected by economists. It was the tenth consecutive monthly rise in retail sales.
Australia's central bank has kept interest rates at a record-low 2.5% since August, seeking to stoke domestic sectors of the economy such as retail sales, as a mining boom that has powered growth for over a decade slows.
Retail sales rose 0.2% in February from a month earlier, the Australian Bureau of Statistics said Thursday, compared with a 0.3% rise expected by economists. It was the tenth consecutive monthly rise in retail sales.
Australia's central bank has kept interest rates at a record-low 2.5% since August, seeking to stoke domestic sectors of the economy such as retail sales, as a mining boom that has powered growth for over a decade slows.