In July, retail sales rose 0.8% in nominal terms over the same month the year before, according to the Australian Bureau of Statistics (ABS). The result more than halved the 1.9% increase recorded in June. On a month-on-month seasonally-adjusted basis, retail sales expanded 0.5% over June, which contrasted the 0.1% drop recorded in the previous month and marked a rebound in retail sales after two consecutive monthly contractions. In addition, the result was above market expectations of a 0.1% rise. Despite the positive reading, the trend deteriorated as annual average growth in retail sales inched down from 2.6% in June to 2.5%.
Retail sales decelerate in July
September 1, 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.