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Free AccessMNI ANALYSIS: Australia Retail Sales Flat, Slow Start To Q3
By Sophia Rodrigues
SYDNEY (MNI) - Australia's retail sales was flat month-on-month in July,
marking a slow start to the third quarter after a strong rise in each of the
three months in the second quarter.
Data published by the Australian Bureau of Statistics Monday showed retail
sales was flat m/m in July, lower than MNI median forecast for a 0.3% rise. The
outcome follows a 0.4% rise in June.
In trend terms, retail sales rose 0.3% m/m for five months in a row. This
was a slight slowing from 0.4% rise in the first two months of this year.
The latest outcome was due to slowing in all categories of retail sales,
except other retailing which rose 1.7% in July versus a 0.2% rise in June.
Household goods retailing fell 1.2%, marking the biggest fall since the
2.8% drop in December last year. Department stores continued their weak trend,
down 1.9% in July and has declined for five out of the last seven months this
year.
Food categories slowed in July, with food retailing up 0.3% versus a 0.4%
rise in June, and food services up 0.6% after a 0.8% rise.
In trend terms, all categories of retail sales were up in July except
household goods retailing which was flat both in July and June, and was down
from a strong 0.7% rise at the start of the year.
Below is table for retail turnover (current prices) for July:
July June
--------------------------------------------------------------------------------
(M/M %, seasonally (M/M %, seasonally
adjusted) adjusted)
Retail Sales 0.0 +0.4 (no revision)
MNI Median +0.1 (range -0.1 to +0.5)
Retail Sales (Trend) +0.3 +0.3(no revision)
Food Retailing +0.3 +0.4
Household Goods -1.2 +0.2
Clothing, Footwear etc -2.0 +1.9
Department Stores -1.9 -1.3
Other Retailing +1.7 +0.2
Cafes, Restaurants,
Takeaways +0.6 +0.8
--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com
[TOPICS: MTABLE,MALDA$,MALDS$,MMLRB$,M$A$$$,M$L$$$,MT$$$$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.