In June, retail sales rose 1.9% in nominal terms over the same month the year before, according to the Australian Bureau of Statistics (ABS). The result came in slightly above the 1.6% increase recorded in May. On a month-on-month seasonally-adjusted basis, retail sales contracted 0.1% over May, which improved compared to the 0.6% drop recorded in the previous month, but undershot market expectations of a 0.3% rise. As a result, the trend improved as annual average growth in retail sales inched up from 2.5% in May to 2.6%. In addition, the ABS released quarterly figures for retail trade in real terms. In the second quarter, retail trade expanded 0.5% over the same quarter the previous year, marking the first positive quarterly reading after retail trade stayed flat in Q1 2011 and contracted 0.4% in Q4 2010.
Retail sales moderate in June
August 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.