Australia’s economy is well on the road to recovery, as new economic data on retail spending shows strong levels of consumer confidence. Preliminary retail trade figures for March released by the Australian Bureau of Statistics surpassed economists’ expectation of 1 percent growth, revealing a 1.4 percent increase in retail sales. The rise was lead by Victoria and Western Australia, which also lead to the February retail sales decrease after snap state border lockdowns at the time. Cafes, restaurants, and food takeaway services lead the rise at a 6 percent increase; however, food retailing across the country fell by 1 percent. Consumer confidence levels have also all shown strong growth on various indexes. The Westpac-Melbourne institute monthly index (pdf) has reached an 11-year high, while the ANZ-Roy Morgan ratings show consumer confidence back at pre-COVID-19 levels. “This is an extraordinary result,” Westpac chief economist Bill Evans said. “The survey continues to …