MW: Australian retail sales unexpectedly drop in May
By Sarah Turner
SYDNEY (MarketWatch) -- Australian retail sales declined 0.6% in May, according to seasonally-adjusted data compiled by the Australian Bureau of Statistics. The drop in May followed a 1.2% rise in April. Sales fell notably in clothing, footwear and personal accessory retailing and department store retailing. Economists had been expecting a 0.3% advance in retail sales, according to data compiled by Dow Jones Newswires. The Australian dollar declined 0.4% to $1.0729 after the data.
