Australia: Retail sales inch up in June
August 5, 2015
Nominal retail sales recorded an increase of 0.7% in June over the previous month, in seasonally-adjusted terms, which was an improvement over the 0.4% increase recorded in May. The figure was above the 0.5% increase that the markets had expected.
On a year-on-year basis, the pace of growth in retail sales climbed from a 3.8% increase May to a 5.3% expansion in June. Annual average growth in retail sales was level at May’s 4.8% in June, maintaining the lowest reading in 11 months.
Author: Robert Hill, Economist