Australia's retail sales in April 2024 increased by 0.1%, slightly below market expectations of 0.2%.

This follows a 0.4% decline in March 2024.

The rise in retail sales was attributed to the earlier Easter holiday and varying school schedules across the country.

Tasmania, Western Australia, and the Northern Territory experienced stagnant trade.

Year-on-year retail sales growth stood at 1.3%, up from 0.9% in March.

The S&P/ASX 200 Index saw a 0.15% increase, reaching around 7,800 on Tuesday.

Australia's manufacturing PMI held steady in May, while the services PMI continued its four-month expansion.

The Reserve Bank of Australia's May meeting minutes hinted at a potential future interest rate hike, despite the cash rate remaining at 4.35% for the fourth time.

Quarterly inflation in Q1 slowed less than expected, with monthly CPI exceeding forecasts.

Monthly CPI inflation reached 3.4% in the year to February 2024.