ANZ analysts point out that for the Australian economy, there is a surprise decline in real quarterly sales in this quarter, which represents the lowest q/q growth in real retail sales since September 2012 (and lowest y/y since 2011) and continuing a negative volume growth downward trend in retail volumes from the past year.
“Retail sales grew 0.3% m/m in March, slightly stronger than our and the market’s expectations. This brought quarterly sales growth to 1.3%, which is a slightly stronger result, in nominal terms, than recent quarters.”
“Volume growth was negative, at -0.1% q/q – the lowest volume growth since September 2012. High food price inflation explains the divergence between nominal and real growth.”
“Retail volume growth has been below the long-term average for the last couple of years and has declined y/y for the last few quarters. Volumes of household goods and department store goods fell during the March quarter, while clothing and other goods both increased by 0.3%.”
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.