Retail Sales (MoM) (Australa)
Slowing Trend for Retail Sales in Australia
Starts Tuesday, December 18, 2018 at 17:23
Updated Monday, December 3, 2018
Retail sales were growing steadily in Australia in April, May and June by 0.4% every month. But in July, retail sales fell flat as shown in the September report. They didn't grow in July. They came back to the normal trend in August, growing by 0.3% which bring brought this indicator close to the trend before the deviation in July. Although, they the growth slowed again to 0.25 last month, missing expectations. This month retail sales are supposed to have grown by 0.3% again. That would be supportive for the AUD. Please follow us for coverage of this event live and the impact it might have on the currency experienced market analysts.
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About Retail Sales (MoM) (Australa)
Developed by the Australian Bureau of Statistics, Retail Sales is a measure of the value of goods sold by retailers. It is based on a select basket of goods and adjusted for inflation. Retail Sales is released on a monthly basis, with comparisons drawn over previous data and industry projections.Retail Sales is a primary metric of consumer confidence and is typically viewed as being a driver of Australia’s economic performance. Household consumption is a key component of the Australian economy, accounting for nearly 60% of aggregate GDP.Retail Sales provides insight into spending patterns, as well as trends in consumer behavior. High readings are viewed as being positive or bullish for the Australian dollar (AUD), while lagging reports stimulate negative market sentiment. Its release can act as a catalyst for short-term volatility facing the AUD or the basis for long-term investing practices.