FXStreet (Bali) – Australian retail sales s.a. (MoM) for the month of June came at +0.7 vs +0.4% exp and +0.3% last, while trade balance was slightly improved at – AUD 2,933M vs – AUD 3,100M, with both imports and exports increasing at 4 and 3% respectively.
Key points – retail sales
The trend estimate rose 0.3% in June 2015. This follows a rise of 0.3% in May 2015 and a rise of 0.3% in April 2015.
The seasonally adjusted estimate rose 0.7% in June 2015. This follows a rise of 0.4% in May 2015 and a relatively unchanged April 2015 (0.0%).
In trend terms, Australian turnover rose 4.7% in June 2015 compared with June 2014.
The following industries rose in trend terms in June 2015: Household goods retailing (0.8%), Food retailing (0.2%), Other retailing (0.4%), Cafes, restaurants and takeaway food services (0.3%) and Clothing, footwear and personal accessory retailing (0.1%). Department stores (-0.2%) fell in trend terms in June 2015.
The following states and territories rose in trend terms in June 2015: New South Wales (0.5%), Victoria (0.3%), South Australia (0.4%), the Australian Capital Territory (0.5%), Western Australia (0.1%), Tasmania (0.2%) and the Northern Territory (0.2%). Queensland (0.0%) was relatively unchanged.
Key points – trade balance
BALANCE ON GOODS AND SERVICES: In trend terms, the balance on goods and services was a deficit of $2,946m in June 2015, an increase of $287m (11%) on the deficit in May 2015.
In seasonally adjusted terms, the balance on goods and services was a deficit of $2,933m in June 2015, an increase of $256m (10%) on the deficit in May 2015.
CREDITS (EXPORTS OF GOODS AND SERVICES): In seasonally adjusted terms, goods and services credits rose $830m (3%) to $26,348m. Non-rural goods rose $590m (4%) and non-monetary gold rose $231m (28%). Rural goods fell $23m (1%). Net exports of goods under merchanting remained steady at $32m. Services credits rose $32m (1%).
DEBITS (IMPORTS OF GOODS AND SERVICES): In seasonally adjusted terms, goods and services debits rose $1,086m (4%) to $29,281m. Intermediate and other merchandise goods rose $957m (10%) and consumption goods rose $80m (1%). Capital goods fell $42m (1%) and non-monetary gold fell $19m (5%). Services debits rose $109m (2%).
2014-15 SITUATION: In original terms, the balance on goods and services for 2014-15 was a deficit of $21.2b, a rise of $13.3b (168%) on the deficit of $7.9b recorded in 2013-14, resulting from a $12.3b (4%) decrease in goods and services credits and a $1.1b increase in goods and services debits
(Market News Provided by FXstreet)