Source: Unsplash/Kentaro Toma.
Though affected by lockdown in Victoria, Australian retail turnover rose 0.4% in May 2021 compared on a month-on-month basis and 7.7% on a year prior, according to the latest ABS data.
The result follows a massive jump in yearly sales in April, as the industry cycled out the initial impact of the COVID-19 lockdown in April 2020.
“The May results are very good for retail, with a strong increase on the April results which is also promising when you consider the month is generally a quiet one for the sector,” NRA chief executive Dominique Lamb said.
“It shows that when the economy is relatively open that business is going well, but as the recent spate of state lockdowns has shown there remains uncertainty.”
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Government positive economic recovery on horizon
21st May 2021 4 hours ago
Indonesia s economy is getting back on track. ANTARA FOTO/Hafidz Mubarak A/rwa. The Indonesian government is optimistic the economy will grow positively this year with indications of an improvement emerging amid the pandemic and containment measures, which have plunged the global economy into a deep contraction.
After Indonesia recorded its first coronavirus cases in March, 2020, economic growth spiraled to minus 5.32 percent in the second quarter to reach minus 3.49 percent in the third quarter and minus 2.19 percent in the fourth quarter of last year. Overall, the Indonesian economy shrunk 2.07 percent year-on-year (yoy) in 2020, a figure that is considered better than several other countries.