Australia: Retail sales expansion moderates in February
April 3, 2014
Nominal retail sales rose 0.2% over the previous month in seasonally-adjusted terms in February, which came in below 1.2% increase recorded in January. The print marked the slowest monthly expansion since June 2013, and fell slightly short of market expectations of a 0.3% rise. On a year-on-year basis, the pace of growth in retail sales eased from a 6.8% increase in January to a 4.9% increase in February. Despite the deceleration, annual average growth in retail sales increased from 3.2% in January to 3.5% in February. FocusEconomics Consensus Forecast panelists see private consumption growing 2.6% in 2014, which is unchanged from last month's forecast. For 2015, the panel sees private consumption expanding 2.9%.