Australia: Retail sales expand in June
August 4, 2014
Nominal retail sales rose 0.6% in June over the previous month in seasonally-adjusted terms, which contrasted the 0.3% decrease recorded in May. The result came in above market expectations of retail sales expanding 0.2%.
On a year-on-year basis, the pace of growth in retail sales decelerated slightly from the 5.1% increase tallied in May to a 5.0% rise in June. Despite the annual deceleration, annual average growth in retail sales edged up from 4.3% in May to 4.6% in June, which marked the highest average since April 2010.