Australia's July retail sales ease in July, miss expectations

Dhwani Mehta FXStreet

Australia's retail sales for the month of July came at +0.0 % vs 0.3% expected and 0.3% last. The data serves as a negative input for the Aussie, knocking off the rate back below 0.80 handle.

July retail sales - key points (current prices)

The trend estimate rose 0.3% in July 2017. This follows a rise of 0.4% in June 2017 and a rise of 0.4% in May 2017.

The seasonally adjusted estimate was relatively unchanged (0.0%) in July 2017. This follows a rise of 0.2% in June 2017 and a rise of 0.6% in May 2017.

In trend terms, Australian turnover rose 3.5% in July 2017 compared with July 2016.

The following industries rose in trend terms in July 2017: Food retailing (0.2%), Other retailing (0.6%), Household goods retailing (0.4%), Cafes, restaurants and takeaway food services (0.4%), and Clothing footwear and personal accessory retailing (0.6%). Department stores (-0.3%) fell in trend terms in July 2017.

The following states and territories rose in trend terms in July 2017: New South Wales (0.4%), Victoria (0.4%), Queensland (0.2%), Western Australia (0.2%), South Australia (0.2%), Tasmania (0.5%), the Australian Capital Territory (0.3%), and the Northern Territory (0.4%).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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