Australia Retail Sales m/m show a change in the turnover of goods and services sold in retail outlets in the given month compared to the previous month.
The indicator covers data on retail sales of the main groups of goods: food and beverages, household goods (furniture, electrical appliances, electronic goods, etc.), clothing, footwear and personal accessories, recreational goods (toys, sports equipment, etc.), newspapers and books, public catering services (cafes, restaurants, food delivery, takeaway food services, etc.) and others.
Data is calculated based on a survey, which scope is all employing retail trade businesses selling predominantly to households. Businesses are stratified based on turnover: the indicator includes companies of different sizes, from small stores to large holdings. The sample of enterprises is randomly compiled from the state statistical register. The survey is conducted primarily by telephone interview, although a small number of questionnaires are mailed to businesses. Most businesses provide turnover on a calendar month basis.
The indicator has high seasonal volatility: a large portion of all retail sales in the country occur during Christmas and New Year holidays. That is why, economists usually interpret a seasonally adjusted version of the indicator, instead of the "raw" one.
Retail sales characterize the level of consumer activity in the country. The growth in retail turnover is seen as positive for the economy. Therefore, the publication of the retail sales report may affect the national currency quotes. A slowdown in the growth of retail sales shows that consumers have reduced their spending level. This may lead to a decline in economic activity and have a negative effect on Australian dollar quotes.
The chart of the entire available history of the "Australia Retail Sales m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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