Australia’s Retail Sales jump 0.5% MoM in July vs. 0.3% expected

Dhwani Mehta FXStreet

Australia’s Retail Sales, a measure of the country’s consumer spending, jumped 0.5% in July on a monthly basis when compared to the expected 0.3% increase and June’s 0.8% decline, the latest data published by the Australian Bureau of Statistics (ABS) showed on Monday.

Key takeaways (via ABS)

Food retailing was relatively unchanged 0.0% (-$6.4m) in July, in seasonally adjusted terms.

Household goods retailing fell 0.2% (-$10.3m) in July, in seasonally adjusted terms.

Clothing, footwear and personal accessory retailing rose 2.0% ($56.7m) in July, in seasonally adjusted terms.

Department stores rose 3.6% ($65.1m) in July, in seasonally adjusted terms.

Other retailing rose 0.3% ($15.6m) in July, in seasonally adjusted terms.

Cafes, restaurants and takeaway food services rose 1.3% ($68.4m) in July, in seasonally adjusted terms.

Market reaction

AUD/USD failed to find any inspiration from the upbeat Australian data. The spot is trading at 0.6430, up 0.45% on the day, as of writing.

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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