Australia: Retail sales stagnate in April
June 4, 2015
Nominal retail sales recorded flat growth in April over the previous month in seasonally-adjusted terms, which was below the 0.2% increase recorded in March. The result was well below 0.4% increase that the markets had expected.
On a year-on-year basis, the pace of growth in retail sales fell from a 5.1% expansion in March to a 3.6% increase in April, which was the lowest reading in 19 months. Annual average growth in retail sales ticked down from March’s 5.1% to 4.9% in April.
Author: Robert Hill, Economist