Australia’s July retail sales misses expectations

FXStreet (Bali) – Australia’s July retail sales came below expectations at -0.1%% vs +0.4% median estimates and +0.7% prior, while Australia’s July trade balance came in at -2460 m vs -3160m exp.

Key points – retail sales

The trend estimate rose 0.2% in July 2015. This follows a rise of 0.3% in June 2015 and a rise of 0.3% in May 2015.

The seasonally adjusted estimate fell 0.1% in July 2015. This follows a rise of 0.6% in June 2015 and a rise of 0.3% in May 2015.
In trend terms, Australian turnover rose 4.4% in July 2015 compared with July 2014.

The following industries rose in trend terms in July 2015: Food retailing (0.2%), Household goods retailing (0.4%), Cafes, restaurants and takeaway food services (0.3%), Other retailing (0.3%) and Clothing, footwear and personal accessory retailing (0.4%). Department stores (-0.1%) fell in trend terms in July 2015.

The following states and territories rose in trend terms in July 2015: New South Wales (0.4%), Victoria (0.2%), Western Australia (0.1%), the Australian Capital Territory (0.5%), South Australia (0.1%) and the Northern Territory (0.3%). Queensland (0.0%) and Tasmania (0.0%) were relatively unchanged.

Australia’s July retail sales came below expectations at -0.1%% vs +0.4% median estimates and +0.7% prior, while Australia’s July trade balance came in at -2460 m vs -3160m exp.

(Market News Provided by FXstreet)