Australia’s retail sales rises 0.3% in March, beats estimates
|Australia's consumption, as represented by retail sales, rose slightly in the month of March, bettering estimates, the Australian Bureau of Statistics (ABS) reported on Tuesday. The retail sales arrived at +0.3 percent month-on-month, compared to the forecast of +0.2 percent and down from previous month's reading of +0.8 percent.
March Key Points (via ABS)
Current Prices
The trend estimate rose 0.3% in March 2019. This follows a rise of 0.3% in February 2019 and a rise of 0.2% in January 2019.
The seasonally adjusted estimate rose 0.3% in March 2019. This follows a rise of 0.9% in February 2019 and a rise of 0.1% in January 2019.
In trend terms, Australian turnover rose 3.0% in March 2019 compared with March 2018.
The following industries rose in trend terms in March 2019: Food retailing (0.4%), Cafes, restaurants and takeaway food services (0.4%), Clothing, footwear and personal accessory retailing (0.3%), and Other retailing (0.1%). Household goods retailing (-0.1%), and Department stores (-0.1%) both fell in trend terms in March 2019.
The following states and territories rose in trend terms in March 2019: New South Wales (0.4%), Queensland (0.3%), Victoria (0.2%), South Australia (0.1%), the Australian Capital Territory (0.1%), and the Northern Territory (0.1%). Western Australia was relatively unchanged (0.0%), and Tasmania (-0.2%) fell in trend terms in March 2019.
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.