Australia: Retail sales slow in July
September 4, 2014
Nominal retail sales rose 0.4% in July over the previous month in seasonally-adjusted terms, which was below the 0.7% increase recorded in June. The result was in line with market expectations.
On a year-on-year basis, the pace of growth in retail sales accelerated from the 5.0% increase tallied in June to a 6.5% rise in July. Following the annual acceleration, annual average growth in retail sales edged up from 4.6% in June to 5.0% in July, which marked the highest average since March 2010.