Australia: Retail sales slow in August
October 1, 2014
Nominal retail sales rose 0.1% in August over the previous month in seasonally-adjusted terms, which was below the 0.4% increase recorded in July. The result undershot market expectations of a 0.4% rise.
On a year-on-year basis, the pace of growth in retail sales decelerated from the 6.5% increase tallied in July to a 3.8% rise in August. In contrast, annual average growth in retail sales remained stable at July’s 5.0% growth rate, which had marked the highest average since March 2010.