Australia’s May retail sales disappoints, negative revision

FXStreet (Bali) – Australia’s May retail sales came below expectations at +0.3% vs +0.5% median estimates, with last month’s data also revised lower to -0.1% vs 0%.

Key points

“The trend estimate rose 0.2% in May 2015. This follows a rise of 0.3% in April 2015 and a rise of 0.3% in March 2015.”

“The seasonally adjusted estimate rose 0.3% in May 2015. This follows a fall of 0.1% in April 2015 and a rise of 0.2% in March 2015.”

“In trend terms, Australian turnover rose 4.4% in May 2015 compared with May 2014.”

“The following industries rose in trend terms in May 2015: Food retailing (0.2%), Clothing, footwear and personal accessory retailing (0.8%), Household goods retailing (0.3%) and Other retailing (0.2%). Cafes, restaurants and takeaway food services (0.0%) and Department stores (0.0%) were relatively unchanged.”

“The following states and territories rose in trend terms in May 2015: New South Wales (0.3%), Victoria (0.3%), Queensland (0.2%), South Australia (0.3%), the Australian Capital Territory (0.3%) and Tasmania (0.2%). Western Australia (0.0%) was relatively unchanged. The Northern Territory (-0.1%) fell in trend terms in May 2015.”

Australia’s May retail sales came below expectations at +0.3% vs +0.5% median estimates, with last month’s data also revised lower to -0.1% vs 0%.

(Market News Provided by FXstreet)