Australia: Retail sales accelerate slightly in February
April 7, 2015
Nominal retail sales rose 0.7% in February over the previous month in seasonally-adjusted terms, which was slightly above the revised 0.5% increase recorded in January (previously estimated: +0.4% month-on-month). The result just overshot the 0.4% increase that the markets had expected.
On a year-on-year basis, the pace of growth in retail sales rose from a 4.0% expansion in January to a 4.4% increase in February. Annual average growth in retail sales ticked down from January’s 5.1% to 5.0% in February.
Author: Cecilia Simkievich, Economist