The prelim for the month was -1.8% so the final is not much of a surprise.
- lock-downs in Melbourne for two weeks from May 28
- and then in the back part of June for Sydney, Brisbane, Perth and Darwin
Looking ahead, July had lockdowns once again in Melbourne (Australia’s second-largest population city) and in Sydney (Australia’s largest population city) – Sydney’sl lockdown is ongoing although many retail outlets remain open. South Australia was also shut-in for a period in July.
Further data also, Q2 retail sales +0.8% q/q vs. +0.9% expected.
Meanwhile at the Reserve Bank of Australia yesterday:
forex education hub.