Australian retailers suffered a soggy month of sales in April in yet another sign of gloom for the broader economy just hours before the country’s central bank is seen likely to cut interest rates to record lows. Tuesday’s data from the Australian Bureau of Statistics (ABS) showed retail sales fell 0.1% in April from March, the first negative reading this year and confounding forecasts for a 0.2% gain. The decline, led by houshold goods, eating out and clothing, pointed to a disappointing start for the June quarter and sent the local dollar spinning to the day’s low of $0.6959. Household consumption has been a major … (full story)