June 2010: Retail sales bounce back

Retail sales rose strongly in March across all states, according to the latest Commonwealth Bank Business Sales Indicator. The Indicator, which tracks the value of credit and debit card transactions processed through Commonwealth Bank EFTPOS terminals, rose by 0.7% in March, its strongest growth rate in eight months.

The value of spending transactions rose in all 20 industries covered by the Indicator, with service businesses the strongest performers, including Personal Services (up 2.2%), Government Services (up 1.7%) and Professional Services (up 1.5%). However, the survey also showed that inbound tourism has yet to fully recover from last year's financial crisis, with spending at hotels and motels remaining flat.

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