Free Trial
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.
AUSTRALIA DATA
Retail sales in January came in stronger-than-expected at +1.9% m/m after a 4% drop in December and 1.7% rise in November. This left the annual rate stable at a robust 7.5% y/y. Retail is only part of overall consumption and tomorrow’s Q4 GDP report will be watched closely for any slowing in total expenditure.
- November through to January were heavily impacted by festive shopping and the increasing importance of Black Friday discounts in November. The value of retail sales is around the September 2022 level signalling that through the end-of-year volatility, retail spending has stabilised but at a level still 17% higher than March 2020. February should give an idea of the underlying trend.
- Retail turnover rose across industries with department stores up 8.8% and restaurants up 1.2%, reflecting strong services spending over the summer. The numbers are nominal and so have also been boosted by rising prices.
Australia retail sales vs CBS household spending intentions y/y%
Source: MNI - Market News/ABS/CBA
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok