FX.co ★ Australia Retail Sales Rise 0.7%

Australia's retail sales increased more-than-expected in May after remaining flat in the previous month, figures from the Australian Bureau of Statistics showed on Thursday.

Retail sales rose 0.7 percent month-on-month in May versus a stagnant change in April . Sales were expected to grow slightly, by 0.1 percent.

Sales at cafes, restaurants, and takeaway food services grew 1.4 percent over the month, and other retail segments logged an increase of 2.2 percent. Food sales showed only a slight rise of 0.3 percent.

On a yearly basis, retail sales growth eased somewhat to 4.3 percent in May from 4.3 percent a month ago.