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Australia retail sales growth stalls in September
The Australian Bureau of Statistics (ABS) data released today showed consumption as represented by the retail sales remained flat in September. Retail sales came-in at 0.0% m/m vs. 0.4% expected and -0.5% previous.
CURRENT PRICES
- The trend estimate was relatively unchanged (0.0%) in September 2017 following a relatively unchanged estimate (0.0%) in August 2017 and a relatively unchanged estimate (0.0%) in July 2017.
- The seasonally adjusted estimate was relatively unchanged (0.0%) in September 2017. This follows a fall of 0.5% in August 2017 and a fall of 0.3% in July 2017.
- In trend terms, Australian turnover rose 2.0% in September 2017 compared with September 2016.
- The following industries fell in trend terms in September 2017: Household goods retailing (-0.5%), Cafes, restaurants and takeaway food services (-0.1%) and Department stores (-0.1%). Food retailing rose (0.1%) and Other retailing (0.0%) and Clothing, footwear and personal accessory retailing (0.0%) were relatively unchanged in trend terms in September 2017.
- The following states and territories fell in trend terms in September 2017: Victoria (-0.1%), Western Australia (-0.3%), South Australia (-0.1%), the Australian Capital Territory (-0.2%), the Northern Territory (-0.2%), and Tasmania (-0.1%). New South Wales rose (0.1%) and Queensland (0.0%) was relatively unchanged in trend terms.
VOLUME MEASURES
- In volume terms, the trend estimate for Australian turnover rose (0.6%) in the September quarter 2017.
Author
Omkar Godbole
FXStreet Contributor
Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.
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