Australia Retail


Retail sales rise above expectations in February

In February, retail sales jumped 1.3% over January, which was up from the 1.2% rise recorded in the previous month and exceeded market expectations of a 0.3% rise.

Despite the stronger-than-expected reading, nominal retail sales moderated from a 4.3% year-on-year increase in January to a 1.1% rise in February. As a result, annual average growth in retail sales fell from 3.4% in January to 3.1% in February.

FocusEconomics Consensus Forecast panellists see private consumption growing 2.5% in 2013, which is unchanged from last month's forecast. Panellists see private consumption expanding 3.0% in 2014.

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Australia Retail Chart

Australia Retail February 2013

Note: Month-on-month seasonally adjusted and annual variation of retail sales index in %.
Source: Australia Bureau of Statistics and FocusEconomics calculations.

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