Australian jewellery retailers report June increase
Monday, 2nd August 2004 (10704 views)
Retail sales in Australia saw an increase this June based on the month before, with sales growing by 2.1 per cent.
The increase was the biggest in three years, with sales of Australian $16.33 billion, thought to be caused by end of financial year sales and increased government funding for families.
Jewellery was one sector that did particularly well, increasing by 4.2 per cent during the month, according to Forbes.
As a result of improved sales, a number of Australian retail companies have now increased their earnings predictions within the last month.
It has been suggested that the increase will also add to pressure on the central bank to raise interest rates.
