Australia’s Feb retail sales fails to meet expectations

By FXStreet 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.
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Source:: FX Street