Retail sales volumes posted their biggest quarterly percentage gain since records were kept in 1983 and are expected to contribute as much as 1.4 per cent points to GDP growth in the September quarter.
All states and territories other than Victoria saw sales rebound in the third quarter and some economists expect consumption to be even stronger because of spending in reopened services, little of which shows up in official retail data.
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Matthew Cranston was The Australian Financial Review’s United States correspondent.