Australian retail sales data has been mixed in past months, but not uniformly dreadful as it was prior to that
A big beat today, coming in at +0.6%
- expected +0.3%, and prior +0.2%, revised higher from 0.1%
All industries higher for February ... says the Australian Bureau of Statistics: :
- "led by household goods retailing (1.1 per cent), food retailing (0.3 per cent), cafe's restaurants and takeaways (0.7 per cent) and clothing, footwear and personal accessories (1.1 per cent). Department stores rose (1.5 per cent) after falls in each of the preceding three months. Other retailing also rose (0.2 per cent)."
I do wish the ABS wouldn't report the positives in brackets like that .... some might thin that in brackets denotes negatives. Anyway, whateves.
Trend estimate
- +0.4 per cent in February (prior +0.3 per cent in January ) and +2.7 per cent y/y
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AUD has had a bit of a pop. Although the building approvals data was a miss, this most focus was on the retails sales data point .... and as you see it was a nice beat indeed
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For background on this volatile data point, I posted a preview earlier here:
