Australia January retail sales rebound is weaker than expected
|Consumption, as represented by retail sales, rebounded in January, but missed estimates by a big margin, the Australian Bureau of Statistics reported today. The retail sales registered a growth of 0.1 percent month-on-month, compared to the forecast of 0.4 percent and up from previous month's reading of -0.5 percent.
January Key Points (Source ABS)
CURRENT PRICES
- The trend estimate rose 0.3% in January 2018. This follows a rise of 0.3% in December 2017 and a rise of 0.2% in November 2017.
- The seasonally adjusted estimate rose 0.1% in January 2018. This follows a fall of 0.5% in December 2017 and a rise of 1.3% in November 2017.
- In trend terms, Australian turnover rose 2.3% in January 2018 compared with January 2017.
- The following industries rose in trend terms in January 2018: Food retailing (0.3%), Household goods retailing (0.5%), Cafes, restaurants and takeaway food services (0.3%), Clothing, footwear and personal accessory retailing (0.3%), and Other retailing (0.1%). Department stores (-0.2%) fell in trend terms in January 2018.
- The following states and territories rose in trend terms in January 2018: Victoria (0.5%), Queensland (0.3%), New South Wales (0.2%), South Australia (0.5%), Western Australia (0.1%), and Tasmania (0.3%). The Australian Capital Territory was relatively unchanged (0.0%). The Northern Territory (-0.1%) fell in trend terms in January 2018.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.