Australia: Retail sales slow in March
May 6, 2015
Nominal retail sales rose 0.3% in March over the previous month in seasonally-adjusted terms, which was below the 0.7% increase recorded in February. The result undershot the 0.4% increase that the markets had expected.
On a year-on-year basis, the pace of growth in retail sales rose from a 4.4% expansion in February to a 5.1% increase in March, which was the highest reading in five months. Annual average growth in retail sales ticked up from February’s 5.0% to 5.1% in March.
Author: Robert Hill, Economist