MNI DATA ANALYSIS: Australia Retail Sales Up; Trend +0.3% M/M

By Sophia Rodrigues

     SYDNEY (MNI) - Australia's retail sales rose more than expected in April,

leaving the trend growth unchanged at 0.3% for the fourth month in a row.

     The data showed that consumption isn't yet affected by the slowing in the

housing market and supports the Reserve Bank of Australia forecast for

consumption growth to remain around the rate seen last year. 

     Data published by Australian Bureau of Statistics Monday showed retail

sales rose 0.4% m/m in April, followed a flat March. It compares with MNI median

forecast for a 0.2% m/m rise and was on the top end of the forecast.

     The latest growth was driven by food-related categories, with food

retailing up 0.3%, and cafe and restaurants up 1.3% which matched a rate last

seen in October last year.

     Household goods retailing rose in April, more than offsetting the 0.3% fall

in March. Department stores remained a laggard, falling for two months in a row,

and trend was in negative for five consecutive months.

     Clothing, footwear and accessories also fell for two straight months, with

the trend in negative for two months.

     Below is table for retail trade data for April:

                                                April                      March

--------------------------------------------------------------------------------

                                   (M/M %, seasonally         (M/M %, seasonally

                                            adjusted)                  adjusted)

Retail Sales                                     +0.4          0.0 (no revision)

MNI Median                  +0.2 (range -0.1 to +0.4)

Food Retailing                                   +0.3                       +0.8

Household Goods                                  +0.7                       -0.3

Clothing, Footwear etc                           -0.8                       -0.7

Department Stores                                -0.9                       -0.6

Other Retailing                                  +0.9                       -0.6

Cafes, Restaurants,

Takeaways                                        +1.3                       -0.8

--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com

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