Retail Sales (MoM) (Australa)
Retail Sales Declined for the Second December in Two Years
Starts Thursday, March 7, 2019 at 00:30
Updated Saturday, March 2, 2019
Retail sales were growing steadily in Australia in the last several months. They were growing by 0.2%-0.3% in the period from August to October and in November, the pace grew to 0.4%. Although, in December sales were expected to come at 0.0% which means that retail sales didn't grow that month, but that month they declined by 0.4% instead. This is the first decline since December 2017 so perhaps it's a cyclical thing. Maybe Aussies don't celebrate Christmas and New year, or they fly somewhere cold to have a snowy holiday period. We'll see this week after January's report is released. Please follow us for live coverage of this event by 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.