In May, retail sales rose 1.6% in nominal terms over the same month the year before, according to the Australian Bureau of Statistics (ABS). The result came in below the 4.0% increase recorded in April. On a month-on-month basis, retail sales contracted 0.6% over April, contrasting the 1.2% increase recorded in the previous month and defying market expectations of a 0.3% rise. The May reading saw the trend turn positive as annual average growth in retail sales inched up from 2.4% in April to 2.5%.
Retail sales moderate in May
July 4, 2011
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Australia Economic News
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4.
October 11, 2016
The business confidence index published by the National Australia Bank (NAB) was stable in September at August’s 6 points.
October 5, 2016
Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
October 4, 2016
At its 4 October monetary policy meeting, the Reserve Bank of Australia (RBA) kept its policy rate steady at an all-time low of 1.50% after cutting its rate by 25 basis points twice this year, once in May and once in August.
September 15, 2016
The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.