Australia: Expansion in retail accelerates slightly in April
June 3, 2014
Nominal retail sales rose 0.2% over the previous month in seasonally-adjusted terms in April, which came in above the 0.1% increase recorded in March. The result fell short of market expectations of a 0.3% rise.
On a year-on-year basis, the pace of growth in retail sales accelerated from the 4.4% increase tallied in March to a 6.5% increase in April. As a consequence of the acceleration, annual average growth in retail sales edged up from 3.8% in March to 4.1% in April, which marked the highest average since May 2010.