Australia's Feb Retail Sales Fails to Meet Expectations
Australia's Feb retail sales came at 0.0% m/m vs 0.4% expected and 0.3% last.
Key Points
The trend estimate rose 0.2% in February 2016. This follows a rise of 0.2% in January 2016 and a rise of 0.3% in December 2015.
The seasonally adjusted estimate was relatively unchanged (0.0%) in February 2016. This follows a rise of 0.3% in January 2016 and a relatively unchanged (0.0%) December 2015.
In trend terms, Australian turnover rose 3.7% in February 2016 compared with February 2015.
The following industries rose in trend terms in February 2016: Clothing, footwear and personal accessory retailing (0.7%), Household goods retailing (0.3%), Food retailing (0.1%), Cafes, restaurants and takeaway food services (0.1%) and Department stores (0.2%). Other retailing (0.0%) was relatively unchanged in trend terms in February 2016.
The following states and territories rose in trend terms in February 2016: New South Wales (0.2%), Victoria (0.2%), Queensland (0.2%), the Australian Capital Territory (1.1%), South Australia (0.3%), Tasmania (0.3%) and the Northern Territory (0.3%). Western Australia (-0.2%) fell in trend terms in February 2016.
(Market News Provided by FXstreet)
