REPEAT: MNI: Australia Retail Eases RBA H'Hold Spend Worry

Repeats Story Initially Transmitted at 01:53 GMT Apr 4/21:53 EST Apr 3

By Sophia Rodrigues

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

February, leading to an acceleration in trend growth rate to a level last seen

in October 2016.

     The data would slightly ease the Reserve Bank of Australia's concerns about

the outlook for household consumption, and raise the chance of first hike in the

cash rate later this year provided there is no escalation in global trade

tensions or tightening in financial conditions.

     Data published by the Australian Bureau of Statistics Tuesday showed retail

sales rose 0.6% m/m in February and followed an upward revision in January sales

to +0.2% from +0.1%. The outcome was higher than expected and on the high side

of the range predicted by economists in MNI poll.

     Among the outperformers in February were household goods retailing which

rose 1.1% m/m, with the trend rate at a solid +0.6% for three months in a row.

     Both the food categories also supported the gain, with food services up a

strong 0.7% -- the largest increase in four months that pushed up the trend

growth to +0.4% from +0.3%.

     Below is table for Retail trade data for February:

                                         February                        January

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

                               (M/M %, seasonally

                                        adjusted)   (M/M %, seasonally adjusted)

                                                       +0.2(revised from +0.1 no

Retail Sales                                 +0.6                      revision)

                               +0.3(range +0.2 to

MNI Median                                  +0.7)

Food Retailing                               +0.3                           +0.1

Household Goods                              +1.1                           +0.1

Clothing, Footwear etc                       +1.1                           -0.6

Department Stores                            +1.5                           -0.4

Other Retailing                              +0.2                           +1.2

Cafes, Restaurants,

Takeaways                                    +0.7                           +0.1

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

[TOPICS: MTABLE]