Australia: Expansion in retail slows down in April
July 3, 2014
Nominal retail sales fell 0.5% over the previous month in seasonally-adjusted terms in May, which was below the 0.1% decrease recorded in April. The result came in below market expectations of retail sales showing flat growth.
On a year-on-year basis, the pace of growth in retail sales decelerated from the 6.5% increase tallied in April to a 4.9% increase in May. Despite the annual deceleration, annual average growth in retail sales edged up from 4.1% in April to 4.3% in May, which marked the highest average since April 2010.