Australia retail sales steady at 0.4 percent in May, beat estimates
|Australia's consumption, as represented by retail sales, steadied in the month of May, beating estimates, the Australian Bureau of Statistics (ABS) reported on Wednesday. The retail sales arrived at 0.4 percent month-on-month, compared to the forecast of 0.3 percent and unchanged from previous month's reading of 0.4 percent.
May Key Points (via ABS)
Current Prices
The trend estimate rose 0.3% in May 2018. This follows a rise of 0.3% in April 2018 and a rise of 0.3% in March 2018.
The seasonally adjusted estimate rose 0.4% in May 2018. This follows a rise in April 2018 of 0.5% and a relatively unchanged result (0.0%) in March 2018.
In trend terms, Australian turnover rose 2.8% in May 2018 compared with May 2017.
The following industries rose in trend terms in May 2018: Food retailing (0.4%), Household goods retailing (0.2%), Department stores (0.5%), Other retailing (0.2%), and Clothing, footwear and personal accessory retailing (0.1%). Cafes, restaurants and takeaway food services (0.0%) was relatively unchanged in May 2018.
The following states and territories rose in trend terms in May 2018: New South Wales (0.4%), Victoria (0.3%), Queensland (0.1%), the Australian Capital Territory (0.6%), Tasmania (0.5%), the Northern Territory (0.9%), and South Australia (0.1%). Western Australia (0.0%) was relatively unchanged in May 2018.
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